In the wake of the iPad launch there has been a lot of discussion regarding whether it will be enough to "save" the print industry, generally meaning newspapers, books, and magazines. I think this line of though completely misses the point and Seth Godin's assessment comes much closer to the actual problem.
The gist of the idea is that the print industry CAN'T be saved as long as their definition of being "saved" means making the same profits by doing the same things, and only changing the method of delivery. The print/publishing industry is burdened with so many outmoded practices and expectations that NO technical device could possibly overcome them.
Their salvation can only come from redefining the terms of their future. Adapting their products, practices, and profit model for the next generation is the realistic long-term solution. Being "saved" can only be accomplished by adjusting how they operate, not by simply changing kind of device they're consumed on.
They'll need to do some deep soul-searching to find the boldness required -- and probably many more of them will fail before the industry as a whole turns the corner -- but content producers in the print industry CAN have a very successful and profitable future if they're willing to re-evaluate their definition of success and adapt to a different way of operating that maximizes their benefits, instead of preserving their baggage.