.
Its no different in the beer industry.
Like the beer industry, craft distilleries will impact growth for the giants. But it won't put them out of business. For all the great craft beers out there, one of five beers sold at retail is a Bud Light.
I have half empty bottle of Knob Creek on my bar, and it won't be long until it is empty. But I also have several bottles of craft bourbons and ryes. (I've learned to avoid ryes from Indiana like Bulliett, because most come from the old Seagrams distillary, and they all taste the same. If you are looking for an excellent rye, I recommend Dad's Hat from Pennsylvania. If you see it at a bar, order it in a Manhattan.)
The advantage craft breweries have over craft distilleries is the breweries can start selling product within days of starting production. A craft distillery selling 7 year old bourbon has to wait 7 years to sell their first bottle.