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As far as the industry being 'asleep at the wheel', all content industries would have been much better off keeping their stuff as far away from the Internet as possible. 'Innovation' on the Internet is nothing but a death spiral for artists - ultimately, the only people making money on the Internet are ISPs and the gate keepers like Google - making money off of other people's information.
We all should have seen through the lie sued everyone and everything, and lobbied for tough regulations on Internet companies, starting in 1995. But, everyone was blinded by those fake dollar signs. Journos should know better, they were the first to get burned. Their business is ruined forever, fewer journalists making much less, but they still believe so strongly in the lie. Go figure.
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