Whether you love Trump or Despise him, the simple fact is that his presence in the political arena broke the brains of a lot of people and the results have produced a number of spin-off effects. Some people see Trump and see a patriotic successful businessman, others see him as a rude, ignorant, uncultured fascist. People in this latter category, discarded all traditions in a reaction to him, seeing themselves as defenders of civilization and their every action as justified. People who supported Trump saw the others as going insane. We developed two dramatically different worldviews while looking at the exact same ink blot.
After Trump descended the golden escalator in 2015, the permanent political class in government went insane and decided to throw out all the old rules in an effort to block his election, then prevent his being sworn-in, then destroy his administration, then try to eliminate his legacy, and then try to keep him from getting back into power. Nearly every person in the top levels of corporate media in the US has ties to people in these un-elected government positions, so the "mainstream media" in the US jumped into the effort and threw their credibility onto the flaming altar of their politics. This was not sustainable, as the public (even many of those politically aligned with the effort) began to see very big holes and fallacies exposed in the narratives being pumped.
We had major news outlets repeating stories over and over again about "Trump Russia Collusion" with formerly-respected journalists getting fired after being caught lying on air about basic facts. On-air talent and print reporters were routinely telling people Trump was going to be convicted of major crimes, up to and including treason, and that he'd be in an orange jump suit in prison. As this was happening, actual government reports were spilling-out proving the infamous "Steele Dossier" was just a pile of made-up garbage put together by a British spy and his Russian spy buddies while on the payroll of the Clinton campaign and it was never going to lead to any successful prosecution. This angered the right, who saw the media falsely attacking Trump and lying about him, but it ALSO angered the left who felt they'd been mislead and had their hopes dishonestly raised. This was a big bi-partisan failure for the press.
COVID was all tangled-up in the Trump fight and probably had an even bigger impact. Initially, the Trump people bragged the new experimental vaccines were available in record time, but the press down-played the vaccines and even advanced the anti-Trump narrative that they could not be trusted because they were developed under Trump. After Biden got in, the press flipped the narrative to be that the vaccines were perfect and every person had to be REQUIRED to take them and the Biden admin was making sure they were free as a great national health project. People were told to not, mask, then to mask, then to double-mask, and to "social distance", etc. Every new pronouncement was pushed by the media who were NOT doing their traditional job of being skeptical and asking hard questions. As the government lines about masks, vaccine effectiveness, booster effectiveness, etc kept changing the press just kept acting as a cheerleader, and ended-up looking positively Orwellian as they pseudo-facts and narratives kept shifting with nary an acknowledgement that anything had changed. Instead of the press looking into the arguments of critics, the press helped the government suppress any critics and any contrary information. Now that we know how messed-up all those narratives were and what a disaster those vaccines were, including that they were largely developed BEFORE the outbreak and the pharma people were less than honest with both the Trump and Biden admins, it leads to even more questions about the role of the press and whether it can be trusted at all.
The loss of press credibility is like a self-inflicted gunshot wound. Journalists would love to blame it on politicians using them as a punching bag, or failures of the public to understand them, or any number of other things, but what they need is a healthy dose of introspection. They went full-on partisan and sold out all their principles in the process, abandoning even the most-basic ideas of journalism- and everybody can see it; It cannot be unseen. They could not correct themselves at the time because they'd started with an already heavy political bias but then discarded anybody whose politics were impure, so they lost the in-the-room counter arguments and voices that might have cause them to return to skepticism and more balanced reporting. At the peak of the anti-Trump hysteria, NOBODY in the news rooms was a person who saw the inkblot differently from the rest, so there was no brake handle on the runaway train car. They'll only recover credibility when they come clean and admit to what they did, and bring people back into the newsrooms who are not in the same groupthink. I'm not holding my breath on that one and do not see any path for the press to recover.