I think the example to go by is GAI. If a TPG went out of business, it'd be similar to how things went with them. Cards in that holder would sell for a discount, but they would still be respected as being authentic and roughly comparable to that grade given. PSA's business is extremely good right now, which is why their backlog is so long. I doubt they will ever be in danger unless they lose a major lawsuit (a la the Wagner card), and even then they'd probably still survive.
I doubt there will ever be a time when all TPG's all gone. That would happen around the same time when new baseball cards were no longer produced and baseball were no longer played.
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