I also think it's funny to describe "old media reporting on new media as scaremongering" when scaremongering in the form of conspiracy theory and false expertise in new media (social media) is arguably its greatest flaw. What facebook et al have empowered in terms of fear and control is truly breathtaking. I don't think the insulated tech community of hacker news can truly appreciate how many people in the West have been led to fully distrust science and academia. How many reject medical science and climate science. How many have been manipulated into thinking collapse and violence are imminent and have engineered their entire lives around that belief, from moving to far away rural areas and stockpiling weapons and supplies. The breadth of the scaremongering and thoughtcontrol that social media enables is unparalleled in our history.
But sure, the problem is "old media".