I guess maybe the tone would be less noxious if the core coceit of the satire felt more legitimate. I mean, Wikipedia was kind of a shit show back in the day. It's had 20 years of maturation which is more what makes it useful today.
And yes, the media is full of blatant and bald faced lies but is that worse than the credulous and uncritical way the media basically endorsed the war in Iraq?
I get that it's a joke but the joke kinda only works if there's some truth behind it. And I just don't think there is here. I think people are lamenting old media now, not because the information sphere is genuinely worse today but because it was a comfort to have a consensus in public opinion regardless of how true that consensus was.
You don't seem to be familiar with McSweeney's Internet Tendency. Fair enough, it's not to everyone's taste and doesn't try to be.