Yellow journalism is a style of writing used to entertain. It distorts, sensationalizes, and exploits information to attract readers. It appeals to our lowest instincts.
They haven't so far and I doubt they will in the foreseeable future. I think the clue is in your question and your use of 'lowest instincts'. Appealing to our baser instincts is a tried and tested way of getting what you want.
No I don't think the general public will. There is a reason tabloid exist, people like them. And the "news" people have figured it amounts to ratings.
It's sort of 'national enquirer' journalism Harry. Facts and other things useful for understanding the world are ignored except where they can be used to provoke emotional responses. There's an opinion (one I partly share) that this kind of thought-free, response-seeking bullshit peddling is damaging to society and there is no doubt it is far more prevalent than it was.
You can find it in all tabloids without searching too hard and it occurs in more serious publications too from time to time. It also supplies daytime television with some of it's content - in the UK the odious twat Jeremy Kyle would be a good example.
It's the boil on the arse of freedom of speech. Hope that helps! :)