Things collapsing has been a predominant sentiment in every modern generation. It's unprecedented because of our collective amnesia, that regards the familiar as a stable starting point rather than a random moment in a volatile reality.
Journalism was a tawdry, un-respectable business since its conception, but experienced a brief period of valor around the mid-twentieth century when industry concentration, Cold War ethics and regulation collectively reworked its incentives. The education system has always been in a position of scrutiny since universal education become the norm. Presidents have been the stuff of tabloid gossip since the founding fathers with the media mercilessly opting to promote scandal and controversy over respectability. Our conception of President as moral arbiter is a function of the reworking of journalism mentioned above.
The difference in peoples attitudes reflects an increased diet of emotion inducing media that accelerates fears and expectations, rather than some great pivot in volatility. Yes there are things to worry about but there always are (let's remember the twentieth century had two world wars, the Great Depression, and an even worse pandemic).