Remember the MiniDisk?
The UMD is just a MiniDisk with a Mini DVD and a rounded case.
When The MiniDisk came out, it was touted by Sony as the replacement for the Cassette Tape.
The UMD format has a lot money invested in it, for better or worse, and will not go away. The only thing that will change will be the disk element. It will be a BluRay Disk in the next gen & have a third corner or some other bullshit.
Give a man a fish, and you feed him for a day. Teach a man to fish, and he'll invite himself over for dinner. - Calvin Keegan