I disagree largely with your analysis.
I don't think she is saying that people are stupid to have concerns, but rather that those concerns are being amplified to such a level as to not bear comparison to reality. At least that is what I took from it. Also she rightly in my opinion identifies the fact that they don't need viewers, that is not what they are about.
I agree about inconsistencies in the media even at The Guardian, or perhaps especially at The Guardian, (yes I'm looking at you Simon Jenkins) but then inconsistency abounds everywhere. I mean I heard one guy claim that "I spin you around" is in the same league as "I know him so well". Idiot. How either of those two ditties stand comaprison with "A New England" is beyond me. Oops, I digress.
The question remains as to why someone would pump so much money into an endeavour that loses the stuff hand over fist and breaks the rules of OFCOM (although that is proving to be a very toothless watchdog) without having some kind of endgame in sight. And they have an endgame and that is enabling the very right of the Conservatives to survive and thrive in order to push their agenda of fear and hatred which bleeds out through other channels rather than their tV channel.