Earlier quoted context omitted.
To a halt? Surely people will keep writing regardless and somebody will want to read it.
Its not the writing that's an issue. It's the publishing. Taking someone's writing and turning that into a book requires work and funding. When price controls and discount bans are enforced on book publishers and book stores, publishers are much less willing to take risks on unknown authors. Sure, a new JK Rowling or Danielle Steele book will always find someone willing to publish them, but would a young aspiring aut…
In today's world, they kind of still do that, but spend so little time, energy and money on it that it's impossible for them to even remotely justify the huge cut they take with a straight face. Innate talent left aside, whether an author wannabe's book sells well or not entirely depends on his willingness to promote it by showing up at events and bookstores.
As such, you're just as well off -- and more often than not, better off -- relying on friends for feedback and copy-editing, self-publishing an ebook, and reaching out to your audience directly through mostly online channels.
(I worked in a brick and mortar bookstore, and have been watching the situation degrade over the years ever since. Methinks that, much like the press at large, publishers only have themselves to blame.)