I should probably quote the actual text rather than letting my paraphrase stand. The question is

"It has been suggested that the major challenge for the humanities in the coming century will be to determine the fate of literature and to secure some space for the aesthetic in the face of the overwhelming forces of mass culture and commercial entertainment. True?

Well, yes, but the question is hopelessly framed [responds McGann]. "The aesthetic" already occupies a major "space" in the world of virtual culture, it's just that the academy is out to lunch. "