I don't think this will help Kodak. The world is digital. This just makes Kodak an company competing in a small specialized market. I don't see shrinking Kodak to match the market is a "turn around." Kodak will need to do something special to regain its place in the photographic industry.
But Kodak could focus on analog photography products. It would be nice to see Kodak survive. But maybe the market is really not big enough for the current players. But if Kodak fails, this might make Fuji and Ilford stronger and the film market stronger as well as each player gets a bigger slice of the pie by filling in the vacuum Kodak leaves behind.