I hope Naiantic's failure will not doom location based gaming. I suffered through the meaningless grind of Pokemon GO for longer than I expected because I loved the human and exploring elements so much. Niantic stumbled on a brilliant idea and completely failed to make an engaging game. It is hard for me to exaggerate how good I think locations based games are and how bad Niantic is at making games.
There are so many possibilities in this space. I encourage any game maker interested to continue developing it. Maybe something that tells a story or solve a puzzle rather than just collect crap.