This is where I'm at. There are a lot of stations in my market whose programming is a variation on pop music (newer, older, softer, more rhythmic, etc etc), with inoffensive wallpaper DJs, interrupted every 20 minutes by 5-6 minutes of depressing ads for gambling and Big Macs.
It's not 1989, the pop music they're playing is not a rare commodity that I'd otherwise have to go to a record store to obtain. The wallpaper DJ is telling me about a show I didn't watch on TV last night, and spouting platitudes like "I love that song" and "I hope you aren't too cold out there today". My car has Spotify, which for a small fee gives me access to pretty much every song I love, with no commercials. Three days out of five in the working week, I'm not even commuting, I'm sitting at a computer which is playing music. I don't need news, my phone does that. I don't need traffic, my in-car navigation does that.
To make any impact in that context, a radio station has to be really well programmed, it has to give me music discovery or insightful presentation or something that I can't just create for myself on Spotify, and it has to make it worth me listening to the clutter, which most stations don't. It can still be done, but the days of "we own a stick, we're playing pop music, advertisers will come along and it'll print money" are long gone.