EARN IT is tightly focused on the perceived issue of CSAM material, exploitive "grooming" of minors via the Internet, and the like. It would do zilch to incent large social media companies against using algorithms that implicitly promote outrage-inducing content, much of it naturally being fake news and misinformation. It would also make it harder for smaller, more independent actors to counter these dynamics - because increased, more complex regulation and heavier liability always hinders smaller actors to the benefit of larger ones. You're conflating two issues which have very little to do with one another.