I know little of the device or the company, but perhaps someone can help inform me and others. Is GoPro a single product company, with expected growth and decline curves of Iomega or Palm? Or is it divested across wearables or some other sector?
I don't think comparison to Palm or Iomega is fair. Camera technology seems a little more cemented than storage or mobile operating systems.
I think the rise of sectors like drones will make GoPro a successful complement for a long time. I'm sure they could divest into specialized cameras for these sectors if they wanted to (think infrared/multispectral imaging for agriculture). Right now, however, they seem to have a "Do one thing and do it really well" approach.
And they also organize events.