I would agree that 5% is not a bad percentage.
As for the gist of what you are saying, he is talking more technology but you are right. Until something is built, people will simply continue to do what they are doing. There is no reason to change.
Price action tells us nothing. Yahoo at $475 during the dotcom bubble ought to tell people that.
Hang around markets long enough and you see how neurotic they are. Ultimately, they tell us little about the value of what something has.