I'm sure the same strategies were floating around in the corporate offices of Blockbuster around the end of its era, which you saw when they pushed services like Blockbuster Total Access. I can imagine their executives thought they had the time to adapt, not knowing how quickly everyone was about to shift to streaming and on-demand.
Obviously the games market is different, and there is a deeper foothold of collectors that makes up a larger percentage of the total amount of console gamers out there that will always want physical games, and the comparison is also between retail and rental stores, but the days of Gamestop's core business is numbered, and its yet to be seen if they can truly adapt. They cannot exist in an age when the only product to sell is a console, and everything else is exclusive to digital storefronts. Nobody is going to drive to a Gamestop to buy download and subscription codes. This is a desperate company, and all of their strategies and behavior serves to prove that.
