it's already happening. the price of digital camera keep dropping and performance gets better every year. it is very conceivable that film photography will survive only in a number of specialized niches, with digital imaging dominating all others.
the most dangerous period for a new technology is in the early phase, when its price-performance characteristic are below that of the establish technology. if it can find and serve a niche market or lead user who, for one reason or another value it the technology may survive. if it can continue to improve its price-performance characteristic , it may even force its way into the mainstream market. the now-popular hybrid-powered vehicle provides an example.