Instead we are witnessing the literary equivalent of Gresham's Law. Gresham's Law is the recognition that whenever more than one type of currency is legal tender, (e.g. gold and silver) the more valuable one disappears from circulation.
Now a "book" is like currency in that it is a token of its valuable contents. Some are better than others, but people buy a book without fully evaluating the quality. Indeed that is the reader's job.
"Old publishing" may be dying but a side effect is that any old manuscript can now be published. The downside is that the "good" books will be harder to find in this democratized world. Eventually we will have to re-create the editorial process of old publishing on top of the new distribution channels. Then readers will associate some e-publishing brands with quality--even more so than today. But it hasn't happened yet.
A similar issue is being worked out in news. Most people would still rather read the NY Times and WSj rather than wikinews. The reason: editorial input. Wikinews is a noble effort but has not got the magic formula for editorial control.
Hope he proofread.
FWIW I make these mistakes (homophones) at a depressingly increasing rate; I blame it on dying neurons.