Is ESA Rated "O" for Over?

Is this the end for the Entertainment Software Association?  The videogame trade association that fashions itself a la the RIAA and MPAA and which is responsible for lobbying on behalf of the industry, policing the age restrictions on games, organizing E3 and other activities to help bring videogames to the hearts and minds of videogame players appears to be struggling.  Both Activision and Vivendi Games pulled out of the organization, now there are rumors that LucasArts may be dropping out as well.  Can ESA or E3 survive the loss of three of the largest game publishers?  It seems unlikely.  Thanks to Content Agenda for the link.