The Future of E-Books

New Yorker has a new article about the future of the e-book. It seems that Amazon's Kindle is going through some strife, but the iPad is poised to swoop in. I'm not a huge fan of the whole e-book idea, I must admit. Did you know Amazon can take back your e-book any time they want? And I love browsing at the bookstore. However, this comment made me think:

According to Grandinetti, publishers are asking the wrong questions. “The real competition here is not, in our view, between the hardcover book and the e-book,” he says. “TV, movies, Web browsing, video games are all competing for people’s valuable time. And if the book doesn’t compete we think that over time the industry will suffer. "

What do you think? Is the e-book the only way for publishing to survive?