Suppose the forces that want to convince Americans that Barack Obama is a Muslim or wasn’t born in the United States start winning, and more and more people believe it. This is a defeat for journalism—in fact, for verification itself. Neutrality and objectivity carry no instructions for how to react to something like that. They aren’t “wrong”, they’re just limited. The American press does not know what to do when neutrality, objectivity, balance and “report both sides” reach their natural limits. And so journalists tend to deny that there are such limits. But with this denial they’ve violated the code of the truth-teller because these limits are real. See the problem?
It’s quite possible this industry is not entirely stable.