"I would bet click bait has a far higher bounce rate than accurate headlines" -- It does, but it can still be monetized with junk ads that do pay a tiny bit. So

"I would bet click bait has a far higher bounce rate than accurate headlines" -- It does, but it can still be monetized with junk ads that do pay a tiny bit. So you go all-out for volume, and you end up with the situation we're in now.