Of course, the rest of the world has a football-like sport (rugby--sorry, Australia) which suggests that there's a fair bit of demand for that general type of sport--and not just in the US. Rugby has its own issues with concussions although probably not as much as American football.
In general, I agree with the article that football isn't "too big to fail." I'm not sure lawsuits is so much the path though as kids simply not playing. That doesn't seem to be happening however.