Most of the higher-quality longitudinal evidence I've seen does not show that there is an increase in believing in conspiracy theories or misinformation (or, as we used to call it, people simply being incorrect). It's simply much more visible now due to the Internet being widely adopted, whereas in the past you'd never know what people across the world (or even your own city) may have been thinking about.
Since there is no stable nor global solution to the problem of deciding who gets to label/regulate information, nor any evidence showing that even with the regulation of information, people actually change their beliefs to the 'correct' ones, I don't personally see merit in this path. The temptation to find a solution is sensible prima facie, but history and human psychology show us that this is a fool's errand.