It was always a loss-making enterprise, even with centralized distribution.

24 hour news cycles and internet competition isn't a good recipe for in-depth, long-pursuit journalism.

conveniently leaving out that those doing the funding aren't the viewers but advertisers (for most media companies).

If the funding came from viewers - who pay for quality, informative and unbiased journalism, there would be more of it. But people don't want to pay.

I feel like this was never a majority of the viewer or readership.

Instead, in an era of scarcity, BDFLs were able to choose this for them.