I agree that this is true but don't just blame Twitter. Look at the major "news" networks. Look at the poor quality of "reporting". The bigger cause is the engagement above all else mentality of generating advertising. Click-bait, faux outrage, sensationalism, half-truths, posting 5 year old images out of context as "just in", creating scary fake crises, etc.
That is a fair question to ask. One big issue is that the Fairness Doctrine was repealed long ago. TV news used to make quite a lot of money actually reporting the news. While times have changed, they have taken the easy road down the TMZ path. I think people would be even more interested in actual news instead of the "who can shout the loudest" nonsense we have now.
The sci-fi seried Buck Godot proposed an entertaining solution - allow only a limited number of journalists to exist, and let the aspiring journalists sort it out between themselves.
The one living journalist in that story was completely amoral, but boy was she willing to go to great lengths to get the story!
The Bloomberg/Reuters model seems to work well: charge hedge funds $xx thousand per person per year for super-fast up-to-date news, and use that to fund reporting for a $10-50/month subscription service that also has a limited free tier (a few articles/month with ads).
