There is a spectrum of reliability. A panel of experts deciding on truth or fakeness of news is on the bad end of the spectrum, everyone figuring out what they think is most likely true is further towards the good end of the spectrum.
But nowhere on the spectrum is good enough to uncritically trust news you read on the internet. That can't be achieved. There is a choice of misinformation - either that approved by an eventally corrupt panel of experts, or those approved by the opinions of People of Average Intelligence, or that approved by people you personally like.
Truth isn't the result of consensus, it's the result of knowledge. "everyone figuring out what they think is most likely true" leads to millions of people being propagandized into believing 5G towers cause coronavirus.
On average, the panel of experts is still going to be more reliable.
But nowhere on the spectrum is good enough to uncritically trust news you read on the internet. That can't be achieved. There is a choice of misinformation - either that approved by an eventally corrupt panel of experts, or those approved by the opinions of People of Average Intelligence, or that approved by people you personally like.