I mean, obviously.

Conan and Stewart have already pivoted to podcasts.

Doing a nightly show on broadcast TV with huge production values just isn't profitable. That's why Colbert's contract didn't get renewed. Even with the best ratings of Late Night, it's not making money.

It's a huge commitment for the Host, they can't really do anything else. But a podcast (especially if you're doing it yourself) is very flexible.

It's like how FM "morning shows" used to be this huge thing everyone in the city listened to, until it wasn't.