News exists to give you an approximate representation of what is happening without having to invest too much effort in actual investigation. It is built on trust. If you have to build trust with each individual journalist you follow a la carte, then that makes the entry barrier to following the news much higher.
The web, more than any other medium before it, has elevated the individual. Therefore, it stands to reason that we ought to place our trust in the individual alone, for whom reputation remains meaningful, and for whom the holding of accountability remains possible.
Someone else shared this on HN in the last few weeks, and I've been looking at it almost daily.
While this may be true theoretically, it's already been disproven in practice. People believe almost anything posted on the Internet, whether it is a no-name website or a random tweet that goes viral.
Some people certainly do. Whether the majority of voters as a whole do has not been proven to me.
There are still millions of loyal subscribers to the big institutions like NYT, WSJ, WaPo, etc.