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This paper evaluates whether zoological institutions could replace a growing share of captive-animal exhibition with augmented and virtual reality, artificial intelligence, remote observation, and long-term investments in wildlife habitats. It compares a conventional zoo, a hybrid conservation-focused zoo, and a primarily digital wildlife institution through an explicitly hypothetical 20-year financial model. Published evidence establishes that accredited zoos already contribute materially to education, species management, and field conservation, while protected-area tourism can yield significant local economic benefits. It does not establish that digital encounters reliably match the learning, visitation, or conservation outcomes of live exhibits. The paper therefore recommends phased pilots rather than general closure: preserve scientifically justified ex situ populations and lifetime care for existing animals; redirect marginal expansion investment toward habitat partnerships; and require community governance, transparent revenue sharing, and independent biodiversity evaluation. Section 10 adds an off-world limit case. Where live animals are physically unaffordable, digital representation becomes the default rather than a choice, which reframes the terrestrial zoo's irreducible function as custody of the physical referent rather than education. Supplementary files: the claim register and source ledger, so that every figure in the paper can be traced to the sentence that uses it.
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