Indeed they have. The small point and shoot market is basically dead in the water due to camera phones.
So the big market now for the traditional (and to a lesser extent more recent ones like Sony) camera brands is the top end, semi pro gear. Its becoming more clever, but more expensive.
But there are hints that this itself is reopening a market for more simple, retro feeling cameras again. Film is slowly reappearing, though it will never be what it was. I recently picked up this old girl - a german made interchangeable RangeFinder that didn’t come out of Leitz! - in part as a collection interest but also as a promise to use it:
1957 vintage, No metering, max shutter speed of 1/500, no iso dx coding, optical rangefinder focusing… hmmm, I foresee a lot of wasted film, lol. But hey, its a nice thing to own if you like camera’s. absolute bare essentials.
. Fuji are doing well off traditional layout cameras. Leica have always been expensive and niche, but the latest M10 sticks to the three key items - Iso, Shutter, Aperture - ditches a lot of ancillary functions and is loved by its users.