It would have been hard to update it. It was possible only because it used public airwaves, which are a limited resource. The government could impose requiremen

It would have been hard to update it. It was possible only because it used public airwaves, which are a limited resource. The government could impose requirements as part of giving them a monopoly on the use of certain frequencies. The Fairness Doctrine might have saved us a lot of grief when it came to hate radio. But even that is less important now that we have social media. The First Amendment dramatically limits how much you can regulate that. A proper update would have required a Constitutional amendment. Personally, I'd love to see something like Germany's Basic Law: "Human dignity shall be inviolable. To respect and protect it shall be the duty of all state authority." But a Constitutional amendment is an extremely high bar to clear.