I think it must come down to personal taste and maybe the age of the person. For me, radio is not outdated. I have modern sources of music and download podcasts to fill my need for audio documentaries. But I listen to the radio most days. I love to put on a music channel and let the radio host decide my playlist for the next hour or so. I also listen to radio documentaries and current affairs.
Does this include satellite radio? If so, I definitely don't think it's on its way out. If not, I still don't think it's outdated. The amount of time that I spend listening to my local radio stations is completely dependent on the quality of stations available and my musical preferences.
For instance, in my younger years, when I was a Top 40 kind of person, I listened to the radio all the time because there are always multiple stations available that play that kind of music. On the flip side, the stations that specialize (play golden oldies, "alternative rock" that's really just '90s grunge) can get old after a while. They play the same old things over and over again. There are only a couple stations I listen to now that play music that interests me without getting repetitive. If there were more, I'd listen to it more.
I think there will always be a market for radio regardless of whether you're listing to AM/FM or satellite radio. There's something to meet everyone's needs, nowadays, and that's the great thing about being alive today.
I do still enjoy listening to the radio on occasion. I only listen to the radio stations that play the genre that I like, and I like the blend of music and some senseless talking, especially when I have a long drive ahead of me!
I love the "Coast-to-Coast" radio show, especially back in the "After Dark" days when Art Bell did it. George Noory seems like a really great guy and I listen to his show a lot too, but I must admit I liked it better when Art was at the mic.
It's not a coincidence, radio is definitely not as popular as it once was due to the rapid growth of the internet, among other factors. However, it is still quite popular and can come in handy at times, like when you are stuck in traffic.