Fault/blame implies that someone did something wrong. But I think the
possible game-changer (depending on how it plays out) was the deal Apple cut with the publishers.
While I may not agree or like what is happening, they are doing what they believe makes sense. It allowed Apple to market the iPad as a competitor to the Kindle without taking a loss on e-books. Likewise, the Apple deal gave publishers the leverage they needed to force the agency model.
But together this provided mix needed to create a perfect storm for the ebook consumer