Once again, this article assumes that the current way of doing things is the only way of doing things. New business models will spring up. They always do, no matter how much people decry progress.
The same thing is happening with the music industry. Just because the record labels see a clear pattern towards electronic consumption doesn't mean that clinging to the old model as long as possible isn't the most profitable strategy.
They may not be as profitable for each individual company, but the pie is growing overall. More people than ever before are able to practice music as a profession. Consumer choice has never been greater.
If that comes at the expense of the big four, you'll have to forgive my lack of tears.
Then again, I'm a quite different person than record label executives, so I shouldn't expect they'd think anything like me on the issue...