I think the phone has taken the place of a point 'n shoot, or before that Instamatics, etc. that were used by the average person taking pictures of vacation, holidays, whatever. It's just that now people plaster their photos all over the internet where before only friends and family saw their photos in an album, or a slideshow, or bad home movies! lol I think peeps just like 'everything' because they're trying to be nice, or be a friend, etc. so they 'like' everything that crosses their (online) path.
It seems it's already somewhat died out as a profession, with all the people with cameras on social media, underpricing, etc. But I wonder if that will somewhat rebound. I've seen it often enough that many don't last long because they start running into problems with unhappy clients, complaints about albums that are subpar and already falling apart, people wanting a lot for not much, not making much money for the amount of work it ends up being, etc. etc.
I have seen it hit our local sports/hockey community (which is a relatively small world) and those jobs (not just photography but in media, PR, & radio) never came back; I've known a few guys who got laid off and are now working in sales, etc.
But then there are things that supposedly were dead that came back - like film!! and vinyl... Although they haven't necessarily come back in the mainstream but there's still interest and they're still around.