There is absolutely no doubt that film is dead. The ones who grew up with it, including myself, need to get over it. There is a lot of nostalgia to it and I am of the opinion that many people pimped digital technology (be it in sound recording, stills photography, cinematography etc.) because it's cheaper, faster and more convenient but not better. BUT as we speak, digital cinematography IS better in almost every single aspect.
I own a cheap 150 Euro camera which I bought last X-mas. The colors are as natural and nuanced as I ever saw on any old camera using photochemical film. I even get 720p 30fps HD video for free with a photo camera - which is more than good enough to upload on YouTube and looks way better than most dedicated camcorders about 7 years ago. In fact, I am slowly finding myself to like the recent digital video look (free from slush puppy flavor colors and motion smear) better than the film look of the 80s and 90s. I don't count the 2000s because film color timing was aready tweaked digitally to look like something else. There are extremely vibrant colors now which photochemical film never can reproduce. The more muted, blended, softer color palette can easily reproduced by digital - if not 100% now, then soon it will be possible.
I look forward to something much bigger and better than just digital imitating a reel of 35mm film running at 24fps. We should be over this by now. For me "Side by side" is one last glance back. Yes I miss glancing at those old machines with the big reels or that typical sound of the projector running when you were waiting in the hall to get into the movie theater and someone opened the door to a projection booth - but like steam engines, those machines are technically obsolete. Museum pieces. Just like 35mm cameras. That is a fact.