I think it describes not just the ex-hippie journalists, but the lot of them:
Hey, leftover '60s hippies turned media executives who are ashamed of how you left all your "principles" behind and went disco dancing in the '70s, investing in the '80s and dot-comming in the '90s and are now facing your mortality and ashamed that you left your "principles" behind and so all you can do is diss an honorable President and endanger a terrorism-threatened U.S. with the closest thing to institutional treason this nation has ever experienced and now you're wondering why your media outlets are tanking:
GET A FREAKING CLUE!
Now That's Cool Jenny!