I think main difference is specialized comic book stores. When WCW went down it didn't have much of an impact for TV stations. With comic book shops it is different, there are many reports about them doing poorly and you can bet that if DC goes down then bunch of shops will go down as well since they won't be able to sell new Batman or Superman comics. With shops closing it will cut into other publishers profits as well, because those same shops that were being kept alive by Batman most likely were also selling Marvel and Image comics. So it can create a cascade effect.
Obviously it doesn't mean that comics would die then, they just likely would completely shift to digital, OGNs and subscription model.
Well that depends on who you are asking. Some people were saying that Comixology will kill comic book shops because why you'd go to a shop when you can buy digital copy. Others said that nobody is going to buy digital when you can buy real thing. So I guess truth is somewhere in the middle?
I vaguely remember reading few years ago that digital usually has 10% of physical sales, but it wasn't source and more of a "a guy who knows a guy said to another guy" story so I'm not sure how accurate that is.
I do remember Marvel making a big thing about how Ms. Marvel's digital sales matched her physical sales, but I don't remember anyone else shouting about similar thing so I'd guess that digital coming close to physical sales is super rare thing.
1. Shops matter as distributors, but yes, comics as we know them aka monthly ongoings could die.
2. Digital has been flat. People said the same things about trades in the 00's they did about digital in the 10's. They aren't a goldmine, they don't cause piracy, and ultimately the majority of readers for the price of a digital comic prefer something physical. The one wrinkle is the subscription model. That could have real teeth.
It was actually doing worse than it is now. While data is not reliable due to nobody releasing complete numbers and methodologies changing over the years you can get general idea by looking over this page: https://www.comichron.com/yearlycomicssales.html
Does it mean that "woke comics" increased the sales? Not really. I'd say main things that helped the market are:
1. Collected editions now are hotter than they were 10-20 years ago. Back then it was almost entirely DC's market, now everyone is trying to play there.
2. Despite all the doom and gloom digital comics had very small impact on comics sold to comic book shops. But digital comics added around 100$ mil to the industry.
Does it mean that everything is great? No, if AT&T decides that comics are not worthwhile then entire industry is likely to collapse since no one is going to be able to fill that 25-30% hole left in the market.
One thing that people often overlook, while looking at the sales charts, is how entire TOP 300 is doing. Often TOP 10 is doing worse than it did X years ago, but when you look at what 300th position sold it often paints completely different picture.
Price per unit has dramatically risen since the 00's. They're squeezing to gin up the numbers. Sales also started to flatline toward the 10's, as proto wokeness took hold. All the stuff I've mentioned before was taking place. Post OMD Amazing and Didio running with bad ideas like countdown and Bart Allen as the Flash. Trades have helped, but trades of what? Trades of comics from the past. Kindof like the replica one dollar comics.