Sure, Tim. But what percentage of Houses, much less Fixtures, do you think touring musicals are?
There are probably thousands, if not tens of thousands, of small houses that won't go all LED for a long time, asymptotically converging on Never.
Nah, the transition will be janky and piece-mealed but with costs coming down on LED's people will find a way to pay for LED's over maintaining their tungsten inventories. Lot of the small theaters that might be deterred are the same ones who want to stop buying heavy duty power cables, two-fers, lamps, gels, and such. Especially the venues that are constrained with how much power they can tap into. They'll go to Guitar Center and pick up a handful of Taiwan's finest rather than buy a single new tungsten fixture.
It won't be pretty but it will be inevitable.