The New York Times is its country's most recognizable journalism product.
Even if smaller newspapers cannot get people to read, the old wisdom had it that bigger properties make up the slack. Mom and Pop stores get devoured by big chains all the time; so, by the same reasoning, we would expected the Times to pull in those readers who are left.
But it is not happening. The Times got subscribers by deep discount, meaning they were operating at a loss, trying to form habits and retain.
And their strategy isn't working because their product is dysfunctional. It speaks to a few relic limousine liberals of a bygone era and a few middle class wannabes who use hacks and cheats to look smarter and more informed, and they remembered their grandfather's boss crowed about subscribing to the Times...or Wall Street Journal, or something like that.
It is a free fall of a collapsed profession, and as they deny the problem, they have lost their grip, and the void vortex grows bigger as people know less and less, but have stronger and stronger opinions on things they know nothing about...