Professional photography was severely hit when technology allowed rank amateurs to get good enough results.
What, wet collodion plate versus roll film? Rank amateurs still produce amateur results. It's not about the equipment, it's about setting up the scene, or recognizing the great scene. It takes a person with the brains and experience to produce the results.
The technology of photography was good enough for amateurs when roll film was developed. The Eastman Kodak camera went on sale in 1888, and people sent in the whole camera back to Kodak for processing. (And the Eastman company botched or even lost a good portion of those!) So the most basic amateur photography has been around for 136 years. And we still have portrait studios, various pro photographers, and news photographers earning a living. When digital really came in, it was the people in the middle who suffered the most, the ones who processed film and made prints, or did various professional process and layout work. Then when cell phones became good enough, it was the digital SLR that suffered.
Life changes. Personally, I still like using 8x10.