I’m not entirely convinced, Jon. I still pay a subscription to The New Yorker and Harvard Business Review for their content. While more and more people are publishing content for free in an attempt to gain traction so that they can monetise this through other resulting outcomes like speaking engagements and consulting assignments, that only results in a certain kinds of content being published. Some content is still worth paying for and cannot be done for free (at least not many would attempt to) like spending a couple of weeks in Tunisia to write a detailed piece on how it is the hot-bed of jihadists moving to places like Syria.
I agree with the overall sentiment, but there is still room for traditional journalism, there are still jobs in traditional journalism, albeit much lesser than before.