Quite a bit in this article could do with revision, but the  central point remains completely valid:

But the industry, despite notable and impressive exceptions, is still avoiding the inevitable accommodation and embrace of the Internet AS THE PLATFORM. As a body, we are ignoring the implications of digital change and seeking short and medium-term patches at the expense of long-term success.

via E-books are a Cul-de-sac: Why Publishing Needs to Rethink Its Digital Strategy | Publishing Perspectives.