I agree wholeheartedly that the lounge coat is not endangered. In fact, I have always said that the lounge suit would live on.
After all the wearing of powdered wigs is out of fashion but barristers still wear them - in the Eternal Style of what was fashionable around the late 18th century. Sometimes frock coats are still worn - by undertakers and steam punks. The morning coat is not common street fashion as it was in the past, but it too is still worn as ceremonial dress, and often stylishly.
Just as I've never said that wearing drag is the next fashion after lounge suits die tomorrow, I've also never once said that lounge suits will die out tomorrow. There is absolutely no doubt at all that the lounge suit will live on as formal and ceremonial dress, even after men abandon it for everyday wear.
As Laver says, all garments start as casual garments and then gain in formality over time. The lounge suit is gaining in formality exactly as predicated, and it is only a matter of time before it becomes too formal for everyday wear. It will be some time before it is abandoned as business dress but that process has been set in train.
However, scenes like this will never be seen again:
Barristers' forensic wigs nowadays are made, according to Ede & Ravenscroft's patent: they are in self-tied horsehair (some have even been known to be guaranteed 'Anthrax-Free'!) and not powdered. There were some judges, in the early days of their introduction, who refused to 'see' Counsel in them. I think that even the modern variant falls into the category of 'romantic'; broadly according to Laver's categorization, and it never ceased to amaze me how Joe Public accepts them as part of an expected uniform. But I think that they are sui generis and there is little that comapres with them in every day. I even remember one old buffer who wore a short black coat and vest and foot-strapped, buff overalls with full falls, and he, at well over six feet tall, used to shunter around (knees protruding) in an old T-Type Ford. Quite glorious in a strange way.