Very good article. It also neatly explains why certain magazines/papers, like, for example, the Economist, are doing fine even as the industry collapses: they provide hard, strong value in the form of unique insight and analysis communicated extremely clearly.
Perhaps "Why lazy journalists deserve low pay" would be closer to the mark. But that's less of a reader-baiting headline, common in much of today's journalism. Oh, the irony...
But we actually need less "proper" journalists too. A dozen proper, independent news outlets are probably sufficient to cover most world news from every important angle. Why should we need that coverage to be repeated a thousand times, for every major city? Why does the San Francisco Chronicle need someone covering the war in Iraq? Why does the Tribune de Genève need to cover american politics?
There is no need for this duplication of (good) coverage by proper journalists, when global, instant distribution is essentially free.
That is particularly true when you consider that the leading paper's stories will anyway be duplicated a hundred times over by thousands of bloggers who will inevitably capture all the minority viewpoints.