Personally I don't understand the complaints about the content. It must be a matter of taste, as I much prefer ER over Sport Rocketry which usually has too much stuff I don't care about (kiddie launches, contests). But of course others like SR better than ER because those are the kinds of articles that interest them.
As for the internet, sure you can find just about any tech info on the web that you could get from a magazine, but I still prefer magazines. For one thing, I can sit down at a restaurant and read a magazine while I eat. Can't do that with the internet.