I don't disagree with you, necessarily, but the other factor is that everyone has less time and attention to divvy up among the many more celebrities and niches. That's why newspapers and network news will never reach the mindshare that they once had, not even if you resurrected Walter Cronkite and cloned him, because people not only are fine getting their news on Facebook, they're spending a lot of time on FB that might have been spent on other media consumption. Hell, there's a lesson within the old days of newspapers: Afternoon newspapers, almost without exception and regardless of comparative quality, died out compared to morning rivals with the onset of radio and changes to American life schedule.