Inertia. Fox kind of made fun of itself from a pretty early stage with 'fair and balanced' when they were never even pretending to be such. The NYTimes was an excellent, and at least reasonably impartial, paper for many decades. So, many people still look at them as the same as they were decades ago, even though a remotely objective look can tell you they've also long since jumped the shark, hard.
I think there's also the practical problem that there really isn't any good media anymore. It's not like I can say 'well the NYTimes sucks - go to [blah]'. There was an absolutely excellent article by Bob Kaiser (editor at WaPo for decades) - The Bad News About the News. [1] I'm really remiss to give cliff notes because the article covers so much and so eloquently, but in general - the internet has played a major role in destroying the overall quality of news.
I think there's also the practical problem that there really isn't any good media anymore. It's not like I can say 'well the NYTimes sucks - go to [blah]'. There was an absolutely excellent article by Bob Kaiser (editor at WaPo for decades) - The Bad News About the News. [1] I'm really remiss to give cliff notes because the article covers so much and so eloquently, but in general - the internet has played a major role in destroying the overall quality of news.
[1] - http://csweb.brookings.edu/content/research/essays/2014/bad-...