I don't think it is actually degrading. A few years ago there only were talk shows, now they have improved to bad crime and court shows or things like that.
The point is, that there are more channels and all of them sending 24 h/day. They have to fill more time than in the past.
The average might still be the same as in the past, maybe even a little better.
But I have the impression that the really, really good things become fewer. Maybe it's some kind of free rider problem, every producer loves to watch and make quality shows, but no one wants to pay for it when he can get almost the same ratings with cheap productions. And so it becomes worse.
And if tyrants take me, And throw me in prison, My thoughts will burst free, Like blossoms in season.
Foundations will crumble, The structure will tumble, And free men will cry:
Thoughts are free!