I'm slightly more bullish on journalism and its importance than you are, but I broadly agree. It's been embarrassing watching the death throes (or transition period) of journalism, seeing people used to being treated as high-status pathetically lash out at every possible entity involved in exposing their inadequacy.

I do think that journalism plays a role in a healthy democracy. I assume that at some point, journalism will settle into a new equilibrium and play the role that it's always played, without the messianic complex that journalism as a whole is currently afflicted with (and so dramatically fails to live up to).