I'd like to say "mod parent up", but it's already at 5.
This "article" lost all credibility the moment they claimed that Kodak was replaced by Instagram. Kodak was functionally dead long before Instagram was a twinkle in someone's eye. If I was going to try to pin one company as replacing Kodak, it would have to be Apple, since more photos are taken with iPhones than with any other single manufacturer's cameras. I guess that's a less sensational claim, since Apple employs ~90,000 people and is still growing.
As to the real reason for Kodak's demise, they waited too long to go digital, and they screwed it up when they did go mainstream digital. For example, early mainstream Kodak digital cameras used more compression on their JPGs so you could fit more into the tiny built-in memory or small Smartmedia cards. Unfortunately for Kodak, most people care more about the quality of the images than the number they can fit on a card. I'm sure that market research said people wanted to be able to take more pictures, but it didn't actually drive sales. Kodak persisted in this for long enough that the reputation for poor image quality stuck even after they stopped using excessive compression by default.