Unfortunately, it's all about money. My first guitar teacher told me about
payola. It's all bribery and money laundering. I believe the broadcast frequencies belong to the public, but this arrangement only benefits the biggest record companies and the companies that own the radio stations. So, fuck the radio, fuck (most) record companies, and fuck the FCC for selling us all out.
Truly great bands had become famous because their fans shared and traded music with their friends. Major record labels just want to sell records (not literally, you know what I mean), and it benefits them to pay the artist as little as they can, and put them in debt so they need the label (while the label doesn't need them at all).
Everything is changed after the internet emerges, the fans can connect directly to the musicians. The record labels become nothing more than promotional tools. They are going to promote what they want to sell, and maybe a smaller amount of other stuff, if we're lucky.
Actually I did get lucky, there is a good radio station I noticed recently. If you're ever in central-Indiana, tune it to FM 91.9. They have a website with a live stream, as well:
http://www.919witt.org/. I've heard them play classical, techno, folk, bluegrass, old radio broadcasts, drums, Iranian music, sea shanties, basically any kind of interesting stuff, and not ever a commercial. (nothing more than the live DJ briefly mentioning some sponsors). It's FM radio done right, it's surprising.
I also have had Sirius satellite radio for a few years, only because it was a gift. I thought I might subscribe, but it costs too much. I don't use it as much (I had a previous job that involved lots of driving), but it's really good too. Just too expensive for me.