I came to some of these conclusions in 1997:
http://www.canonical.org/~kragen/real-news.htmlIn 2008 I savaged Digg and Reddit for the same reasons:
http://lists.canonical.org/pipermail/kragen-tol/2008-January...
I recommend watching the EPIC 2014 video I allude to in that post; even though it's nine years old and clearly depicts an alternate history at this point, I think its core points have aged well. http://www.robinsloan.com/epic/
Today, I think there actually is a better alternative to reading news sites. You can read Wikipedia. Instead of reading the HN frontpage post about how Sebastian Castro likes having his office in Kendall Square http://www.bostonglobe.com/business/2013/04/13/square-still-... you can read http://en.wikipedia.org/wiki/Kendall_Square and get the history, polysemy, and local attractions of the place — with photos of Kendall Square instead of Sebastian Castro. Or you could read something on Wikipedia that there will rarely be a news story about, like https://en.wikipedia.org/wiki/Human_Development_Index or http://en.wikipedia.org/wiki/Sadhu or http://en.wikipedia.org/wiki/North_Carolina%27s_12th_congres..., or never, like http://en.wikipedia.org/wiki/Vis-viva_equation. And the things you read will be verifiable, objective, and most likely true — unlike the vast majority of crap that passes for journalism today. And most of what's true will still be true five or ten years from now.
But the Grauniad piece is, mostly, not really about how to form a better understanding of the world. It counsels ignorance: don't learn about the world because it isn't practical (doesn't help you make better decisions affecting your life), stresses you out, is enjoyable like a drug, confirms your pre-existing prejudices due to confirmation bias instead of changing your mind, makes you feel helpless, limits your creativity, and is deeply intertwingled, which "inhibits thinking". Reading the encyclopedia has these same drawbacks! But I don't believe that ignorance is bliss, that ignorance helps you think clearly, or that ignorance limits your creativity. Instead, I believe that a broad base of knowledge gives me perspective on our current problems, helps me think more clearly, and enables my creativity.
Up to a point. You can become a mindless factoid junkie from any source of factoids. Building real knowledge out of facts requires really understanding a subject; as David MacKay says in the preface to "Information Theory, Inference, and Learning Algorithms" http://www.inference.phy.cam.ac.uk/itila/, that means you must "creat[e] it for yourself."
I admit I'm pretty distracted by news items myself, at the moment.
(edit: changed "more or less these conclusions" to "some of these conclusions", which is a lot truer.)