I think traditional journalism still matter even if new way of consuming information are created every 3 years.
Think about radio ? They have been proclaimed dead at the birth of the TV and then internet. And despite that they’re still alive and don’t stop to grow like Rfi as an example.
Think about press printed with ink and paper. I would mention the French newspaper Le Canard Enchaîné which doesn’t publish news online, only run a traditional newspaper and still make huge profits.
Another thing I would to mention. Is news found into MTV or the Daily Mail into a Facebook feed can be proclaim as trustworthy as traditional journalism is ? Rfi and the BBC are (thanks to French / UK laws whose impose neutrality and quality). The Guardian and Le Monde Diplomatique are (thanks to Scott trust for the guardian and a similar plan for le Monde Diplomatique which make then away from the conflict of Interest with money).
But are CNN, FOX, Vice, and others popular news organisation on Facebook, twitter, instagram, snapchat free from conflits of interest and values high and neutral journalism? I don’t think so.
