These problems are not economic. They are a function of an extremely broken process. The lack of money for people doing work on the ground through this model is part of why it is dying and high quality writing is going other places.
A good chunk are going to substack. Some are going to other platforms. A few folks are posting on BlueSky/X but really running their own platforms (eg Michael Koffman).
So far x/bsky seem to at least be the consistent discovery platforms for finding these folks who have split off.
It is economic. Significant amounts of advertising dollars were once spent on ads in local newspapers and TV stations. That is no longer the case. Expecting media content to remain high quality when the revenue stream that once supported investigative journalism has dried up makes no sense.
Any time you read or view a piece of content, follow the money trail that got it in front of your eyeballs, ears or fingertips -- it may well be enlightening.