They are pushing a decrepit failed business model.
Nobody watches it.
I think you are right, the old nightly network news model doesn’t work, mostly because they don’t show much news. And what they do show is blatantly slanted, or just tabloid stuff. Maybe a headline or two of real news but that is all. If you were raised with the Huntley-Brinkley Report, or ABC News with Howard K Smith and Harry Reasoner, you know what I mean.