I don't see how that graph is interpreted as a "crushing" -- you may as well make a graph of the sales of Techcrunch's print edition, and see who wins then. The New Yorker could have flat zero web presence and I doubt it would make very much difference to their bottom line. They sell printed pieces of paper, not page views.

It's true that there are lots of other magazines which sell many more copies; I'm just suggesting that they appear to have a lot of headroom in terms of "having a big enough market to be a profitable business."