Modern media like Twitter and Reddit and HN and (dare I say) 4chan is where news breaks first.
By the time I see it on the NYT Ive already read about it on numerous other platforms and usually with better information because its written by people firsthand on the scene or people directly in the know.
Information moves at lightspeed.
Literally dont read the NYT or WaPo anymore. I like that they exist for the abstract idea that quality journalism exists but practically never use them.
So yes Twitter is absolutely a competitor, due to its immediacy and its massive userbase.