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Kodak didn't really have the option to compete. Their business was largely film, which just disappeared completely, and even digital cameras got replaced pretty quickly with phones. There was nothing to pivot too for Kodak.

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What company does the digital camera sensor inside your phone come from? Why couldn't have that been Kodak?

Kodak had digital cameras but it would 10-15 years before digital sensors would be good enough.

But the film market collapsed in like 5-7 years.

and some simple math says that 10-15 minus 5-7 still leaves Kodak in the lurch. But it's now 2025, and Kodak the corporation is still around, so I don't know that my supposition: Kodak would be doing better today if they'd gone all in on digital camera sensor technology, is disproven by that fact.

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