I don’t think Baseball wants to give up the strikeout, either. Related to the K’s marketing value in highlight clip packages, I think a key reason has to do with how video games, combat sports , and superhero movies have led young guys to crave mano-a-mano competitions. Me against you. I die or you die. I strike you out or you hit a homer. A fight to the death every at bat. Baseball is trying to capture the demo that loves that stuff. I would bet if you did a two-question survey, “Which do you like better” and the two choices were “Either home run or strikeout” and “Any ball in play”, the former would have a really good chance of winning among under-35s.
I think pitchers really like the high strikeout era, too, in part because it gets them paid, and in part because it makes them look historically great striking out so many more guys than even the black-and-white Hall of Fame pitchers did. If any starting pitcher today had the same K/9 rate Bob Feller did, they wouldn’t even have a job. Freddy Peralta has one of the top 50 K/9 seasons in history. How else could he ever get on an historical Top 50 list? That’s a pretty decent brag.