Earlier quoted context omitted.
What is the problem with news? Why aren't people willing to pay for it?
Journalism quality has tanked, and social media acts as some degree of (free+fast) competition, furthering the death spiral.
Today, it is just a bunch of people collecting tweets of random people on the interwebs. Race to publish before competition means there's no time for editorial review of simple things like grammar and coherent thoughts let alone accuracy, so lots of FUD can be spread very quickly as "news".
Those well thought out articles are also considered too long and boring and get reposted on socials as TL;DR as if it were their own thoughts.
We used to make fun of the microwave generation with "I want it now" type comments. Now, it's I need it in less than 140chars, or I'm scrolling past it.
The death spiral you describe is like a train wreck that you can do nothing about.