Yeah, it looks like the GSL has served the purpose of being 3rd party killware. Anyone who signs it as is, is painting themselves into a corner (can't make OGL products anymore and GSL can be suspended at anytime w/o notice AND if you go back to OGL, and wizards sues you-- you have to pay THEIR legal bills if you win!). To anywone who still thinks that the GSL wasn't designed to drive companies out of business/keep them from making 4E stuff/bring them under control of WotC, I'd like to share a unique investment opportunity to you about a a bridge in Brooklyn coming on the market.
If Necromancer's assessment that the OGL market has dried up is accurate, any 3rd party that relied mainly on D20 products painted themselves into a corner well before the GSL was revealed. They assumed that either WOTC would never make a new edition, or WOTC would OGL the new edition, or that there would still be a big market for 3rd edition once the new edition came out.
It seems like there are three choices for 3rd party publishers:
1. Create a new audience for either OGL D20 or a new game system.
2. Keep tapping into the existing D&D market by signing the GSL or by making OGL 4E products.
3. Negotiate an alternative license to the GSL with WOTC directly or wait for them to make it more liberal.