The "all-electric' revolution you've got in mind is likely much further away than you expect. There will be a market for internal combustion engines for many more decades before all-electric vehicles can replace the markets in areas that are more remote, or require long hauling vehicles etc.
Yes, but like the hard drive market, as soon as a replacement technology comes over the horizon, all investment in improvements to the existing tech pretty much stops.
agree. but you can barely get a 2 stroke passed the existing emission laws, and they're not generally in use in motor racing outside of enduro. ¯\(°_o)/¯