See: Political Consultants Radio Advertising, Financial Management

The disparity in expertise between the 'expert' and the layman allows for the industry to span decades despite providing no provable benefit.  The perceived benefit - the myth - is enough.  'Advertisers still put a billion a year of advertising into radio!' Yeah, and also into Madame Cleo's Psychic Hotline.  'How should I get elected?'  ... 'Put out costly mailers no matter what the post office charges and ignore the internet!'

Spamming is an entry level position, I assume requires only an email address and time, allowing the entire world to participate, most of whom are desperate and of a worldview that money is unjustly distributed (success at spamming would be ethical redistribution, to some).  These and other delusions correlated with unwise behaviors make it worth testing whether spamming is an industry that is beyond its usefulness rather than profitable generally.