There's no phone company that made all other phone companies irrelevant.
There's no tv channel that made all other tv channels irrelevant.
And there's no radio station that .. you get it.
And so it's hard for me to concolude that there's some ISP that will make all other ISPs irrelevant. Honestly most people will probably have about a 50/50 split between home wifi and phone internet. And that home wifi might have significant intrusion from space-based ISP, but not completely. (I realize spacex is also hoping to provide some phone service from satellites, but I digress)
I've heard it argued that podcasts make radio obsolete. That is more plausible.
This is much like saying satellite TV made cable TV irrelevant. Or magazines made newspapers irrelevant.
It was supposed to be for recording and playing back images. That was pretty much it. His original aspiration was for it to be employed in educational contexts to help make tge spread of visual information possible.
Now if you're talking TV Broadcasting as an industry, then you're absolutely correct. That was the business model settled on, but not without some foundational hmmm'ing, haww'ing and experimentation in coming up with business models in the radio broadcasting space. The history is in itself an interesting piece of work to dive into.