Perhaps one could argue that Kodak and Fuji, with their large scale production facilities, have a harder time adjusting to the new type of market.
This is really the crux of the whole matter. After spending 40 years in industry, as an engineer and consultant, I have seen this pattern repeat ad nauseum. Once a company has become temporally distance from its founding, an interest in the product itself is completely lost. The new management is only interested in the money that a product makes, and if they can make that money without making the product they are more than happy to do so. In fact, companies that were the most dominant in a given field are the least likely to be able to change with technology.
Some of the comments on this thread are just complete nonsense. Of course film will never rebound to its former level. But painting didn't disappear when photography was invented. Just a few minutes ago an ad popped up on another website for a company that specializes "Blacksmith, Knifemaker, Coppersmith and Farrier supplies". Image that there are folks still making horseshoes more than 100 years after the invention of the automobile!
We have certainly reached "peak d!&!+@l" at this point; that is to say that there is essentially no one out there who has not tried d!&!+l imaging at some point or really wants to give up using film but just hasn't got around to it yet. Film's nadir has passed and it will enjoy a sound future in its own niche. Lomography has even brought out a new slide film, so they must feel there is enough of a market for even a niche within a niche.