Yes, Master Pancake is still going strong (they are actually named checked in the Hollywood Reporter article) and does pretty regular in theater shows these days plus, even better for those of us fans that don't live in Austin since Covid, they do regular shows online each week on Twitch.
Mdmost and I have been fans of the Alamo since that original 1 screen theater on 4th and Colorado and I have followed them and their inner workings (from afar as an uber-fan) throughout their expansion. While I can agree with those that feel the zenith of the Alamo was the original Tim and Karrie League-owned days, I think the reality is that it has become more and corporate for many many years now (starting back when they started really expanding into other markets and continuing through the bankruptcy/private equity change). I will be curious to see what Sony ownership brings but, especially as someone here in Dallas with presently closed Alamos, I am excited to at least have a new infusion of money/ownership and they are at least currently paying lip service to honoring all that has made Alamo the brand it is today.