it's not the end for them, there's space for both to coexist and learn how to shape their own business models based on the other.
( @ianfontinell)
This is the key. Their audiences may overlap quite a bit but they serve different consumption models. Each has different strengths and priorities.
90-95% of the OF porn content I've seen is pretty bad -- really poor camera work, poor lighting, bad/abrupt editing, hundreds of 10-20 second videos, action scenes always in boring hotel rooms, etc. Basically all the shit a lot of studios are way better at because they put tons of time/energy into those things. On the other hand, OF content is highly social, and Chaturbate is highly interactive, which makes their products feel more genuine and personalized. Studios can't compete in any meaningful way on those things right now.
Also, studios haven't seen any serious threat outside of piracy and Pornhub/Xtube, so for ages all they've done is take the assembly-line approach to producing shrink wrapped scenes with no real innovation. I would guess any studio that's deeply unhappy about OF and Chaturbate probably is only looking at pure financials and doesn't understand where they fit into the bigger picture and how to evolve their product.