Sorry mister-fixit, I disagree on both of your assessments, FM has always had strong listener attention until recently, when other streaming venues became more prevalent and Clear Channel, with the help of the other two major owners, flooded the market with repeating crap. I think I heard AC/DC four times today and I was only in the car for less than an hour, even worse it was the same two songs.
Maybe my radios are different, I use a lot of boomboxes, but I get some nice separation between the stations and at night there's a lot of them. Travelling is different, you find a good station and it's gone after 20 minutes but it seems more of a distance problem.
AM's biggest issue is content, they have so much possiblilty but nothing has really changed for over 30 years. I remember a station in California that talked about 91210 and Melrose Place the day after they aired, you might not like the content but that was fresh and fun and different. AM needs to work on it's strengths instead of doing the same thing it always has, there's so many interesting things they could be doing but don't even try.