Nothing is killing anything. I've done both pretty extensively, and to say CGI is killing photography is like saying digital cameras killed photography. It appears to me that photos are still being taken, albeit slightly differently. In many ways digi photography made photography way easier, but there were obviously some trade-offs. Barrier to entry is much lower, skill level required to get dense negatives and physically turn that film into stunning prints is more or less gone with the click of some buttons... But I digress.
Of course there is a lot of garbage CGI out there that looks very CG and very poor, that goes the same for all the garbage photography out there. Just cause the tool is available doesn't mean you're any good with it.
One generally needs a background in photography or at least a pretty good working understanding of the fundamentals in order to achieve high quality CG images. You have to understand lighting, color and composition, the general workings of a physical camera, DoF, lens distortion, etc. On top of that you need to know how to build believable materials, which usually comes from the ability to observe the natural world and translate that to some random little sphere on a computer screen. Not to mention quality 3d modelling technique, good render engine know-how, and some solid post processing chops.
One might think you'd actually have to have a broader range of skills to do good CG than take a good photo....including photography experience. So what additionally are the photogs bringing to the table to complain about another tool taking some of their work away from them? Some jobs, mind you, that aren't even possible to photograph.
I don't believe that merely trying to achieve photo quality CG should be the goal, in fact that's very reachable and not all that interesting anymore. Maybe 10 years ago it was cutting edge. And I certainly don't believe that CG is a better option hands down; many times photography is cheaper, faster, and plain easier to work with than having to bother with CG.
But like most evolutions there will always be those that want everything to remain the same and keep them in a safe little bubble. I say embrace it, and open up a wealth of options in your photography. Unless you have a better way to capture products that possibly don't yet exist.
