These days, it seems to me that the place to read a large variety of in-depth, thought-provoking writing for general audiences lies in the blogosphere. Of course, the blogosphere varies tremendously in content and in quality, and I really have no clue how much this compares in terms of volume with previous ideas. But I strongly suspect the author is concerned only with the popular news media, and ignoring new media (well, it looks like new media is mentioned and dismissed in a single sentence). But I don't think there is any real problem with a lack of good, in-depth, well thought out ideas.
Another point to be made is that you can't dumbly compare fractions of media content over time and expect them to compare. The difficulty here is that you might be reaching different groups of people entirely. For instance, the places where you saw thought-provoking essays in the past were generally magazines, many of which were read primarily by people in the middle class and higher, not by poorer people. But these days, even poorer people have no difficulty getting online, so even if the previous magazine readers have moved online for their reading, so have the people who never read magazines in the first place. So even if the number of thought-provoking essays goes down as a fraction of total web content, it may still be reaching no smaller a readership than it did before.
So, in the end, I guess I'll just leave it that I am skeptical.