Almost everything this post describes is not new, not even 21st century new. E-books market share seems to be stuck at about 20% of the total market, where it's been since the early teens. The decline of the print book is more or less like the decline of vinyl albums, except that it never actually declined that much.

However, a lot more people want to be a best-selling author, than there are spots available, so most books don't sell much, and there are lots more authors who cannot get any advance at all. It was ever thus.