Grunge died because everyone got on the bandwagon. It got overcommercialized, was treated as the savior of the music scene, and when it wasn't the trend anymore, was left to become a part of music history. Just like every other "popular" movement in music. To be honest, it seems to me that Grunge was more a movement in a time and place, rather than a true musical movement.
And that's the story of the music industry. Hate it, love it or leave it, it's a business that thrives on the "new" or the "reinvented". If you're lucky, you get to be an important part of it, and make money off it for the rest of your life. if you're not as lucky, you'll have your 15 minutes of fame. If you treat it as a business, then you can make money off it, but be prepared to be hated in the Philmusic forums (hahaha!). If you treat it as art, then make sure you have a day job. As always, there are many shades in between those situations.
The trick is to be aware of how it's a business, how it's an art, and then make your choice about where to be in between those two poles. Tapos, panindigan mo na lang.