The lessons:
The days of tightly controlling your product are, or are nearly, over. The Blue-Ray "consortium" example is a great one. High licensing fees and lots of rules have made many people just avoid it until a new means appears (online distribution).
There will always be "Hollywood." However, it will exist only to make projects that require that type of artistic/financial complexity. It seems doubtful that all those union jobs that have disappeared are coming back. Just ask all those people who worked for record labels in the 90's. Right now it feels like a lull in the storm for film and television. Once the stranglehold is broken on bandwidth, many of the large media producers also own the cable companies, all bets are off.
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