Incidentally, just to visit the original topic for a moment, I recall years ago Noam Chomsky saying that television does not exist to deliver news, info and entertainment to the audience, but rather to deliver the audience to the advertisers.
I reckon therein lies the answer to the future of FM. As long as it can sell ads, it will remain viable. Non commercial, radio depends, of course, on a more direct version of the same model.
Who likes pledge drives? Haven't they become hackneyed and too frequent and too long?
On the other hand, anyone who calls for the end of public broadcasting should be viewed as an enemy of the people.