1) Sometimes a incident is the best way to get a project done. Working in FAANG I've seen a project get done in 1 day during an outage that was projected to take MONTHS during normal business.
2) Sometimes that renovation would never happen due to reasons. Sometimes you need some kindle to start the fire [pun intended].
This is not to say there was no bias, nor that the powerful and moneyed interests had no influence—but it was much less than it is today. There was much more of a social norm of news being honest, factual, and relevant.
Then we torched it at just about the same time as the Chinese came along with a new form of government that I'm not sure the world has as yet even given a proper name. (I guess we can call it Communism? But everyone kind of knows that it's nothing like.)
So to global generations that have grown up viewing all these changes, democracy by comparison to what they have in China has started to look not so all powerful. To many of the planet's young people the assertion that "democracy is the worst except for all the others", is by no means obvious. That change in view is going to have profound implications on the world going forward.
I think the term is "state capitalism." (https://en.wikipedia.org/wiki/State_capitalism)