I think I understand your point, but if news isn’t for profit, who would pay the reporters? I used to write for a newspaper and it’s pretty hard work.
It can’t be state sponsored, due to the conflict of interest. If the state pays for the media you couldn’t trust the media to accurately report on the state.
Honestly, in good faith, wondering what the other options would be.
Because roughly half the country believes what he says. If it affirms their worldview (usually hatred of some “other”), then they are happy to take it on face value.
Because we have blatantly partisan media companies willing to parrot his lies and unwilling to challenge even the most harmful of them.
Because our two party system makes nearly everything a political issue that is supported by one party or the other, and voters have to choose between the lesser of two evils (whatever that means to that voter) than vote for someone who better represents their actual world view.
Because he is rich. Because he is privileged. Because he has never been made to actually face the consequences of intentionally lying to everyone.