Below is a photo of our twins taken with a digital camera from the very early 2000s. The quality obviously sucks (kind of like the quality of blockchain-based products or 3D printed guns today), but it had been improving exponentially for years.
Given their consistent improvements, it should have been obvious to everyone that digital cameras would eventually usurp film ones (just like that digital music would usurp analog, that digital books would usurp hardbacks and paperbacks, etc.), but...it wasn’t. In fact, Eastman Kodak was extremely confident that digital cameras would never be quality or cost competitive with film ones.
Yet, just a few years later Eastman Kodak went into the red. Between 2004 and 2011, the company managed to make a small profit in only one year. In January 2012, it filed for bankruptcy.