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"Take these three items, some WD-40, a vise grip, and a roll of duct tape. Any man worth his salt can fix almost any problem with this stuff alone." - Walt Kowalski
"Only two things are infinite - the universe, and human stupidity. And I'm not sure about the universe." - Albert Einstein
As is the electric guitar.
Absolutely
Surely only the title is that controversial though? It's hard to argue against the concept that mainstream music is less guitar focused than it has ever been, it is 20 years since the last guitar led musical "movement", and kids just don't hear guitar heroes on top 40 radio any more? There are modern major artists who play (Taylor Swift, Ed Sheeran, Katy Perry used to) but they aren't going to inspire a guitar culture like the 70s did, or come close to the impact of Britpop.
Still, the problem comes if you own Fender or Gibson, not if you play. The Harpsichord isn't a big part of music these days but you can still buy one and play it. I own 11 electric guitars, a number I intend to reduce, and I'm not thinking "but if I get rid of this I'll never get another".
If anything, the demise of one of more major brands could almost be considered a good thing, maybe smaller local luthiers and British guitar companies would get a chance to make an impact, maybe we would even get a major new design and not a million copies of the "big four"?
Most are written by Phil Space and represent one person's thinking, and often it's not very good thinking.
The electric guitar will never die simply because plugging a guitar into an amp, turning it on, hitting a chord and listening to the resultant glorous noise is one of the greatest pleasures in life.