No, its not about the ratings, its about the politics.
CNN loses money without periodic subsidies from its sponsors and corporate backers. Its real business is propaganda.
Viewership is either locked in or largely irrelevant.
It doesnt matter if the public dislikes them as long as their sponsors do - including both those who advertise and those who don’t.
Trump increased ratings, which then affects how much money the network can charge for commercials. The higher the ratings, the higher the revenue.