Only car salesmen consistently rate lower. Clement Attlee described democracy as government by discussion. Journalists are purveyors and gatekeepers of public discussion. A free press is a necessary part of democracy.
Newspapers can convey debate in rather more detail and depth than TV or radio.
If the public lack confidence in the press, if they feel disconnected from it, then the press is that much weaker against assault. Worse, it makes it more likely the public will feel disconnected from politics and public life generally. Yet the profession seems unable to learn the lessons of the republic debacle. Coverage and commentary was overwhelmingly for a 'Yes' vote. The failure to carry a single state gave anyone who needed it a public warrant to ignore the press and press opinion as completely unrepresentative of public opinion.