This is 100% true.
Railroads killed themselves because they thought they were in the railroad business instead of the transportation business. The USPS is slowly bleeding to death because of the unions, retirements and everything but they still think they are in the letter business not the communication business.
The railroad analogy is an interesting one. Back in the early 70s, all major railroads were facing bankruptcy (and most in the northeast did declare) because they were still operating in the same way that they did when the railroad was the only choice for transportation. However, after a major restructuring in the 1980s, railroad traffic has grown as the railroads realize that they are now not always at odds with trucking, but they can provide service in tandem with trucking to provide benefits to the customer. Just change "railroads" to film manufacturers and "trucks" to digital, and the parallels become clear.
"Panic not my child, the Great Yellow Father has your hand"--Larry Dressler