People that are into someone playing an instrument and singing their own poetry in a live setting will keep the form alive.
People that listen to expensively produced hot-100-esque music are already not that interested in watching live music.
What does Nick Cave need to worry about? When he tours people go to listen to his music and poetry, not someone else’s!
Do you think live music is going to suffer that much more since the ultimate dagger, the phonograph?