"The logical conclusion of this perspective is that the people who currently are paid to be reporters, editors, writers, photographers, etc. add little to no value to the world."
They do add value - the problem is they aren't getting the revenue generated by their work. It's being siphoned off by the cut/paste/add some commentary aggregators. "Old" news will continue to exist, but with smaller budgets and less resources to do "real" reporting.