The comparison is apples and oranges. Blockbuster was dead the minute Netflix became a viable option. In some cases, Disc is a far superior product between bonus features and if you have a crappy internet connection you don't have any significant load times. However, the convenience of internet steaming with the all-you-can-eat nature of streaming was the final straw for brick-and-mortar stores.
Books and bookstores are not obsolete. They still have many advantages over ebooks and online distribution. First, paper is a great medium; It is dirt cheap; doesn't need batteries; I can annotate and highlight; If I ruin it, there is no huge loss; I can sell it when I'm done; and it comes in many sizes from trade paperbacks to huge coffee table art books. Bookstores are great because you can sample the merchandise. At blockbuster, all I can see is the blurb on the back of the box with a few pictures, the same stuff that can be found anywhere. In a bookstore I can pick it up, leaf through it, even read some of it. Best part is, if I buy it I have it then and there and not 3-to-5 business days from now.
Books and bookstores are going to be around for a long while. As long as paper printing a still dirt cheap, and as long as eReaders are still a big investment for most people (When I see an e-Ink reader for under $30 sold at brick-and-mortar Walmarts or Target, then we'll talk). Sure, bookstores won't be a prevalent as they once were but they are far from being dead any time soon.