I asked this elsewhere, but as I recall, the triggering event for TSR's collapse, the straw that broke the camel's back, was the return of a mountain of books from the fiction side of things. I know that TSR produced way too many game books, but I wonder how much the fiction had to do with its demise? That is, how long would TSR have survived if they didn't have the fiction lines, or if the fiction lines had been much smaller?
Since the fiction lines were, for quite a while, bringing in far more money than the games, I doubt it would have helped--they wouldn't have had the crisis with all those returned books, but the gaming side would have crashed that much faster.