There's really nothing "the industry" can do about it. Radio companies don't own the signals. They merely license them.
You want to see a heritage clear channel that is really diminished? Consider WSM 650 in Nashville. Not owned by a major company. Still with all live & local staff. But without a translator or FM simulcast, it has next to no listeners.
| 0.5 | 0.3 | 0.1 | WSM-AM | 650 AM WSM | Classic Country | Ryman Hospitality | 12,300 |
How do you propose fixing it? It's not a programming problem. It's not a staffing problem. It's a usage problem. People have decided not to use it anymore.