"In today’s professional market, photojournalists are a rare breed, and they are no longer as well paid as in previous generations."
Wow, They might be a "rare breed" in the Leica market but there are probably more photojournalists today than ever.
Free lancers and paparazzi perhaps, but the number of professional photojournalists who make a living from that profession has dramatically decreased with the demise of newspapers, news bureaus, and magazines. Online content, often obtained at very low cost (or free), has driven many out of the profession.
Leica is just a luxury item for rich amateurs even though its also a tool for some professionals and artists.
The price of a Leica S plus two lenses is about the same price as a Phase One digital back with no camera or lenses attached. Your statement doesn't make sense.
There is a reason Phase One dominates the Medium Format market. Most users in that market demand high performance, reliability (both software and hardware) and versatility (open systems). Phase One is more like a high performance film that can be used in a variety of cameras (tech to phase one or hasselblad dslr's).
Since September 2010, I've owned and shot with a Hasselblad H4D-50, Phase One 645DF/IQ180, Leica S2 and now a Leica S. While the Phase One IQ-series backs, and the IQ180 in particular, are the best imaging devices I've ever used, the Phase One 645DF camera was the least reliable (frequent lock-ups, poor autofocus, etc.), most difficult to configure, and had the poorest ergonomics of the lot. My guess is that you haven't owned or used any of these cameras and your opinion is based on no first-hand experience.
The Leica S is a great system though. The lenses are amazing but its a camera looking for a sensor. Its great for people but for a LOT of other things its not the best. Leica needs to figure out how to lead the market in sensor design / quality. Put a 60MP CMOS sensor in that camera with live view and trust me, sales will go through the roof compared to what they are now.
I would encourage you to do some research on how the Leica S is being used. It may not be the right camera for sports, wildlife or action photography, but I can assure you that it's ideal for more than shooting portraits and fashion. The lenses are superb and the image quality rivals any of the medium format systems I've owned and used, bar none. The IQ180 only beats it on resolution.
Joe