Well I may be biased, because I was an engineer at a metro FM radio station, but I listen to FM in my normal cruise radius (usually not the station I worked for, though it was an oldies station and as I get older, the content gets more recent, contemporary to my generation so I get into it more) , then on longer trips outside the broadcast radius, have a large digital collection on a mSD card rather than streaming.
I wouldn't miss AM but I do understand the issue with emergency broadcasts. It's been a long time since we've needed them and I hope we never do, but it seems a minor thing to continue including AM tuning considering all the other crap features now on new vehicles that keeps creeping cost up far more than AM radio capability.
Don't get me wrong, if you want that crap features on your vehicle, a free market should be able to provide it. At the same time, I don't want things mandated that I have to pay for because someone incompetent at driving, becomes a statistic that makes the feature seem important for the *average* (lower common denominator) driver. !@#$ statistics!
It's not just the added cost but also when these subsystems fail later, which is not only added cost but also a period where people develop a false sense of dependence on safety measures and become lax in the attentiveness that would make them irrelevant. If they save lives then it's a good thing, but it might be an even better thing to making getting a driver's license require more thorough testing, and retesting every so often.
[/rant] The difference is that AM radio tuning comes at very low cost and tends to keep working as long as your (now) all-integrated head unit with FM tuning does.