I've been listening to the station for about two years now, and based on what I'm hearing AND on what I'm reading here on the board, it sounds like they know what direction to go in, but they clearly have no clue as to how to convey that direction properly. The whole situation reminds me of something I read in a book written by the people at the "Television Without Pity" website, and it's in reference to cable network Bravo (Stay with me on this...)
They mention how the Bravo network started out as this high end artsy network that showed Primarily Opera & Documentaries et. al., And then they said something interesting...something to the degree of "But then Bravo Realized 'Hey, the World Already HAS a PBS!'" So naturally, they skewed away from the high-class stuff that was already being seen on one venue, and they became their own identity later on. And they became super successful because of it.
To put it in the form of an old SAT Analogy, PBS is to Bravo, as Magic 106.7 is to Easy 99.1. Boston Already HAS A Magic, and is doing miles beyond better than Easy. And the main way for Easy to pull ahead of the field is if it becomes something unique, different and Marketable...Though given what I've been reading about the Campbell family's steadfastness on this page, lots of luck in that department.
If it were me, I'd blow up the whole thing and start fresh with something completely out of left field; and with the audience as low as it is, would they really be taking that big a chance if they did?