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I know a significant number of people who love Louis Armstrong, Billie Holliday, and songs by Cole Porter and George Gershwin, as much as the Beatles and Taylor Swift.
Consider that birds of your feather flock together, and most people are not like this.
There are no Cole Porter radio stations, although in our splintered consumer universe there are a couple of audio or video channels you can see/hear. The audience numbers for them are not large, particularly in comparison with most other current-ish pop performers. Likewise with Louis Armstrong, Billie Holliday, etc.
Nobody is saying “they will disappear completely”, only that the edges will fade as the crush of new material lands on top. That’s why you can only name a dozen or so classic composers, even though there were 10,000 such composers during that era.
The great ones will last, but even Beethoven isn’t playing to stadiums anymore ;)