Over at The Digital Reader, Nate Hoffelder takes a closer look at the looming possibility that Google Play® Books may never re-open to publishers.
I think this is highly likely. In fact, I expressed this opinion in various forums more than five years ago during much of the chaos surrounding the Google book scanning court case.
Nate does an outstanding job of looking at the various factors surrounding what I personally believe will be the ultimate failure of Google Play® Books. It's well-worth the read.
For the record, I believe Google will eventually decide to sell their majority stake in Google Play® Books while retaining partial ownership. Time will tell.