It will always remain second best. Cheaper to produce and cheaper turnaround and everyone these days can shoot video, not just anyone can handle film right though.
It is like those self publishing book deals these days. Anyone can write a book or screenplay. Anyone can shoot HD Video. Even kids and soccer moms have access to the technology, if not on the same high level of quality. Still it makes it less of an art form and opens movies up to anyone. And you no longer need film school cause you can just shoot right from anywhere. Do they even use film anymore in film school why not call it what it is "digital video movie making without any frackin film"

Digital is catching up, though. I like the results I've seen from RED and good old ARRI. Guy Ritchie's Rocknrolla (2008) was shot on an Arri D-20, and I think that one looked pretty good. (The D-20 has a resolution of 2880x2160.) I wouldn't have known it was digital if I hadn't read it by accident. Digital doesn't have to look like Inland Empire or Attack of the Clones anymore, thank god.