I have no doubt general trust levels will adjust, eventually. The issue is that adjustment takes a non-trivial amount of time.
It's still an issue with traditional mass media. See basically any political environment where the Murdoch media empire is active. The long tail of (I hate myself for this terminology, but hey, it's HN) 'legacy humans' still vote and have a very real affect on society.
If anything, making it cheap enough that people have to dismiss video footage might soften the impact. It is interesting how the internet is making it much harder for the mass media to peddle unchallenged lies or slanted perspectives. This tech might counter-intuitively make it harder again.