I'd ask where you would have it go, exactly, but I don't expect responses from ACs
As for where it did go, radio goes everywhere. It's a powerfully expressive medium with a low cost to be a listener.
Now, the cost of transmitting . . . that's another matter. I've been an activist in this area since the 90's, and one of the things that such activism has run is the opening up of low-power FM slots across the country. These slots are strictly reserved for community-run, short-range stations.
If anything, radio needs a bit more regulation with respect to concentration of ownership. Right now, a company called "I heart radio" controls what is, in my opinion, too much spectrum. Lest you think I only pick on commercial, though, there is also, in my area, an NPR station that, by itself, is simulcasting from no fewer than 27 separate stations in upstate New York, Vermont and Massachusetts, all from one central location in Albany. This type of coverage would be better served by a single, medium to large AM station.