35mm does a lot of things medium format can't do (and may never). But medium format does not need to match all of those technologies. All medium format must do is continue to offer enough of a reason to buy it for those who want to. Regarding profits and improvement, in relative terms, the Credo and IQ products were a quantum leap forward for medium format compared to the prior generation. In fact, if you evaluate Phase One as a company over the recent years, on the contrary, they seem to be a thriving company. During the peak of the worldwide recession, they made acquisitions, acquiring a hardware company (Leaf Imaging), a software company (Expressions Media), and invested a controlling stake into a 3rd company (Mamiya), while posting profits throughout the period (indeed, record profits in 2011). They do not seem to reflect a company struggling with R&D funding.
I think both platforms have advanced quite significantly for their intended base. Medium format will always have the disadvantage (and advantages) of size, when it is compared to 35mm technology.
I spoke to a long time client today who shoots Canon and recently acquired a D800. Though an owner, he is not a fan of the D800, and continues to have interest in medium format. The D800 is an excellent product. It is not perfect, and it is not for everyone, but it is a no brainer for the general photographic market, in the same way the Canon 5D-MK II was when it launched.
There are enough photographers in the world who value something different, and does not necessarily have to do seemingly everything with ease the way a Nikon D800 can.
If someone is a fan and can indeed provide useful information about the Nikon D800, by all means share it. I don't understand any need to deter anyone's interest in medium format at the same time.