As is usual with these things, the technoheads are the early adopters and are often willing to pay through the nose for being the first. Sometimes this backfires (Betamax vs VHS & HD-DVD vs Blu-Ray) but often they're happy to take that chance. The chicken/egg scenario always comes to pass with no one buying without content and no content without the market there to buy it. Now that Sky have launched their UHD service with live football every week (as many as 4 matches per weekend) along with Movies, some general entertainment shows and from 2017 the F1, I can see 4k TV sales beginning to ramp up, and prices are coming down too. You can now get a 50" UHD/4k TV for under £500.
So, no, it won't be a failure, but with far more DVD's still sold compared to Blu-Ray's, DVD will live for a good while longer.