It's plausible that BlackBerry may hang on to the 3rd place spot in the smartphone market. Their new phones are fairly solid, and it's plausible that many of their old users would upgrade (the question is how many exactly, versus how many jumped ship permanently). Further, expectations were so low that even a small profit (as forecast) would have been great news.

It was possible for the Z10/Q10 to be a reasonably successful product that kept BlackBerry afloat. That looks a lot more unlikely now, but it's not an option that should've been dismissed as a kneejerk reaction just because "LOL BlackBerry".