Having had a grandfather who was a lifelong blacksmith I would say no.
I'm certainly not going to argue with your Grandfather. ;D
I'll agree that "radio" has the potential to survive by making the leap to the internet; I should have said "broadcasters on the AM & FM bands" need to adapt to "the infinite dial" (was it Arbitron who first called it that, or someone else? Whoever... it's a good description) or AM & FM broadcasters will not find themselves getting any piece of the pie.
It's a daunting task: instead of competing with 30, or 50, or even 100 stations in your area, you're competing with more than 600,000 programing choices.
I had the horrifying, eye-opening experience not too long ago of switching between my internet stream and several other competitors. What I found was that we're all playing basically the same songs. They may pull one out I don't play, I may play one they don't, but for 99% of the songs, you couldn't tell which station was which.
It showed me I have a LOT to do in order to separate myself from the thousands of other 80s stations... and the difference has to be what goes between the records.
The questions broadcasters have to ask is, "if I'm programming a popular music format (with thousands of competitive streams playing approximately the same library online), what can I say or do that will make my station sought out by listeners?
The pie is being cut into MUCH smaller slices these days. For some stations, the solution will be to abandon "traditional" programming entirely. For others, it will mean making their content "hyper-local." Others will be determined to be the most-listened to station out of thousands by dropping millions of promotional dollars into various advertising outlets.
My concern is whether AM & FM broadcasters will figure out which of these things to do (and how), or simply watch their audience be siphoned off by other audio sources until they get to the point it's cheaper to shut the transmitter down, lock the door, and send everybody home.
Broadcast needs another innovation, like rock n roll was in the 50s when TV tried to "kill" radio. Some people are trying; Jelli is one attempt, but I don't think it's a real solution. Hyper-local content can be unique, but is also expensive... the reason we got away from it in the first place. Advertising is expensive, too. Promotional budgets are slashed to the bone.
What's a broadcaster to do, long term?