Exactly - the lack of quality today is just a different sort than it was yesterday.
Yesterday: The barrier to entry in news was HUGE. Press barons like William Randolph Hearst had tremendous influence on the public perception of things because they owned all of the news outlets. Articles were highly-polished, but they consisted almost solely of what the oligarchy wanted the public to know. Small press outlets attempted to operate, but were often stomped out by the press barons.
Today: The barrier to entry is tiny. I can start a blog, post of Facebook, etc. with little or not cost to myself. Opinions are diverse and readily available. On the downside, the low barrier to entry means anyone can put "news" out there. Articles lack the polish (and budget) of yesteryear and opinions/fiction makes it into "news" unchecked. This can make it difficult for readers to separate fact from fiction.