Trad music is a process. The process was/is called "the oral tradition"---a noun---the oral tradition. Songs go through the process---some would say they go "through the mill". The process is what makes them truly folksongs.
Now-a-days, we can (and do) add books and recordings and radio and TV and computers and movies and whatever comes next to the process that makes folksongs in it's crucible.
Sure there's a future for tradional music.