EV success dependent upon battery swapping

Bad news for the auto industry?

A new study by the University of California at Berkeley finds that the key to electric vehicle success could be dependent upon the ability of electric car owners to swap their batteries. Under such a plan consumers might own their car, but not the battery, much like the idea behind Project Better Place.

I haven't been able to read the whole study yet, but I've been a big fan of Better Place's out of the box thinking. Nonetheless, it makes me wonder, is the entire established auto industry capable of surviving such a business model?