They really need to pivot, and I'm not seeing them do it. To me the answer is obvious:

Blockbuster :: Netflix :: actual movie theatre

Old Gamestop :: Steam :: new gamestop with all but the rarest used games hauled away, & using the space for pod enclosures that create individual and co-op immersive experiences, rentable by the hour while parents shop at surrounding stores, run errands, etc.

Studios get immersive demos, suburban gamers have a new social activity, and gamestop continues to have a reason to exist.