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From an L.A. newspaper, but still pretty interesting.
Something sounds interesting for AM radio after new FCC ruling
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There is a 0% chance of this happening in any meaningful way.
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I absolutely agree with your assessment. They made no progress with AM stereo and DAB was a disaster in Canada. Third time is definitely not the charm and who would want to spend the money?
In fact, there seems to be a real push by some stations to encourage listening via a Smart Speaker. I actually heard Jay Michaels on CFRB Tuesday afternoon tell the audience it's better to listen to NT1010 via a Smart Speaker (which they've been giving away for months) than on the radio - although it was OK to tune in the old fashioned way, too.
First time I've heard a radio station say they'd prefer you to listen over the web than over the air.