Or maybe a consolidated media industry is just not representative of what people actually believe.

well i believe media definitle affects what people believe, of course it only works to a limit, but i don't think a single person should own multiple media outlets. You gotta choose, you get 1 thing, that's it

We used to limit local market monopolization and total reach of, at least, public airwaves broadcasters.

That was a good idea. But we stopped.

Seems to be working itself out. Mainstream, traditional, legacy, or whatever you want to call it, is losing their audience.

Yes, given that Limbaugh has not produced new content in four years due to his death, there would be no overlap nowadays.