Only to the extent that the average American reader wants something more than news nuggets. In other words, no.
The point is, generalizations don't work. For example, hatred of the MSM shouldn't blind FReepers to the fact that it's not just liberal bias that's killing newspapers--it's the fact that Americans are reading less and wanting less in-depth information. Conservative newspapers are failing, too, unless they focus on Paris Hilton's latest histrionic display. Focus on supposed stupidity of journalists is distracting from the real issues of why people pursue that field and how journalism schools are teaching it).
Besides, is it stupidity, irresponsibility, ignorance, or something else that makes journalists from this week's TIME magazine caption a photo of a HMMWV as a "tank" (I don't subscribe, but saw it in doctor's office)?
Liberal bias is closing liberal newspapers quicker and in greater numbers than conservative papers. It is also costing liberal networks in viewer ship while center and conservative stations are flourishing. And yes the quality of all journalism has plummeted. At least partially be cause some journalist refuse to acquire knowledge about something they loathe. i.e. the military or firearms. The attitude of the journalist to the Utah mine owner was a good example, the first questions out of the box was why he was still mining for coal when it ways so dangerous, never mind that 50% of our electricity is coal generated.