I love the idea of finding new talent, however you do it, and the television mechanism - seeing artists grow and rise to the occasion - is a medium that actually works because there's a way for the audience to get to know an artist and for the artist to improve.
How do you convince radio to play you? How do you make a good video? How do you pose for a photo session that conveys who you are? These are real challenges that if you get wrong in the real world, you're done.
I think historically there have always been new ways to find an artist. From seeing somebody in a club traditionally to running across them on YouTube, it's always shifting. But the age-old thing holds true: Is the artist unique? Are they talented? And can they communicate? Can they actually reach an audience and hold their attention?