Yes it does, it’s just not “radio” as you understood it anymore. There has been an explosion of specialized music outlets via online streaming, as obscure or offbeat as you want if that’s what floats your boat. The music industry has fragmented into a million pieces and that’s not been an entirely bad thing.
You’re like the only one who gets it. “Radio” is amazing these days and unlimited and the exposure to new sounds is almost overwhelming. My kids go nuts in a Vinyl store. And I love Spotify and all the sources for finding new talent.
I expect to spend the rest of my life being exposed to new stuff, while enjoying the old stuff. One of my sons plans to go into the music industry. He is well on his way, being accepted to music programs this spring, then he will choose.