You're right - it is like a piece of reality - or a version of reality fading away.
I still shoot on film - just for fun - my Lomo broke - but I did a bit of research, and picked up and Olympus XA-2 off eBay - and it's a great little camera. Not as hyped as the Lomo - but a fun unit, and a better lens imo. I keep an eye out for cheap rolls of film on sale, and grab them when I can - have a half dozen in the fridge. I probably still shoot and develop a roll a month.
I think people will always be able to develop their own B&W photos if they want too.
Instructables like this - mean you can do it at home - just got to be careful with the chemicals.