If Borders were to go bankrupt — and this is still an if — it would be one of the greatest catastrophes to hit the publishing world in decades. Even after liquidating as much stock as possible, publishers would receive massive returns, millions of dollars would be lost, and going forward, publishers would have 1,100 fewer stores to sell to.
All the more reason for every publisher -- big and small -- to ante up and really, truly bet on eBooks.
And with the Sony Reader's vision of wireless to come, publishers (and writers!) can set up their own stores to sell their own eBooks.
Sure, people can still order print books from Amazon -- but do publishers really want Jeff Bezos to have a second hand around their necks?
With the right marketing, eBooks can fill the gap: The Bookstore Comes Home. (Note, I do not consider that good marketing, but it is one of the points that should be made, I think.)