(Less so for full-time engineers, but absolutely for management, sales, consultants, etc.)
Headshot photographers not only provide crucial professional lighting expertly adjusted for the contours of your face, but also have a grab bag of techniques to establish rapport and get an authentic, confident, warm expression out of you that is almost impossible to get otherwise for most people. Not to mention work with you to get the right tone and look -- the background and lighting and expression a quirky food blogger needs will be totally different from a conservative CEO, which again is totally different from Brooklyn fiction author.
And because of people's need to brand themselves online, headshot photographers who 20 years ago had actors as 95% of their business, now have business professionals as a majority of their clients. Business is booming.
The photo studio isn't going anywhere -- it's just changing what and who we need to take photos of.