Your problem is that you make shit. A lot of shit. Cheap shit. And no one cares about you or your cheap shit. And an increasingly aware, connected, and mutable audience is onto your cheap shit. They don’t want your cheap shit. They want the good shit. And they will go to find it somewhere. Hell, they’ll even pay for it.
A second thing happened alongside those foundational publishing challenges: this industry which had controlled its ability to reach a populace through ownership of things like printing presses began to cede its power in the delivery and distribution process to other people. People who didn’t care about or understand the media business. People who told them the answer wasn’t the best of something, it was the most of something.
So over time, we built up scale in digital to replace user value. We thought we could solve with numbers (the new, seemingly infinite numbers the internet and social media provides) what we couldn’t solve with attention. And with every new set of eyeballs (or clicks, or views) we added, we diminished the merit of what we made. And advertisers asked for more, because those eyes were worth less. And we made more. And it was less valuable.