I don't think many people would disagree that this strategy has already destroyed CNN's brand. You don't need to qualify that with can. The long-term implications are already here.
Well, I think the executives who made the decision to pursue this strategy might very well disagree with me. I'm also not convinced that it's common sense to pursue quality over popularity.
In general, following your metrics is the sounder strategy. If CNN were to A/B test the "education in Afghanistan" story against Lindsay Lohan, what do you think would win? I have to guess Lindsay Lohan by a mile.
Unfortunately, I don't have an easy answer for distinguishing between metrics you "should" follow vs. metrics you should not.