I am currently reading three books on the Kindle app on my iPhone and iPad, umpteen "real books", and an Audible book. These are mostly non-fiction so I find I can quite easily parallel read, and in fact often benefit from doing so. Audio books take more concentration and so I tend to stick to one of those at a time. But then I do also listen to a lot of podcasts!
Contrary to popular opinion this is not in spite of the internet it is because of it. I get to find out about so many great books through my network, podcasts, and the ever wonderful Brain Pickings.
New technology makes it easier to find, buy, and consume, great writing and world changing ideas. Dumbing down isn't inevitable — it's a choice.