If Mike Kaplan was steering the ship, the numbers would likely still be low. Mike Kaplan decided to make some fairly major tweaks to the format that was not well received by the audience as indicated by the ratings. One could argue, that this format tweak needed some time to gel, but I honesty don't know which is why i'm not making the big bucks as a radio consultant.
The problem with alternative right now is fragmentation where the older listeners who grew up on RHCP, Nirvana, Pearl Jam, Foo Fighters, etc. are just not digging the new more pop oriented "tik-tok" alternative and vice-versa. And you also have a market like Los Angeles with evolving demographics that are less likley to embrace the music.
Kevin Weatherly is truly a remarkable programmer, and i'm impressed by KROQ's recent resurgence, but I do NOT think there's enough room for two commercial alternative stations in this market.
KROQ no longer appears to be a distressed property, but when you factor in all of these obstacles and shortcomings, I explained above, not to mention other variables like loss of cume to streaming apps, I don't see KROQ getting anywhere close to their glory days of the 90's and early 2000's.
My prediction in about 5 years time, is that Los Angeles will only have one commerical alternative station, and I honestly don't know if the losing station will be ALT 98.7 or KROQ. However, 93.1 "Jack-FM" could even further evolve to predominantly embrace classic alternative as a possible wild card which further argues why there's not enough room for two commercial alternative stations in this market.
I'm very curious to hear everyone else's thoughts on this.