Fall of the fourth estate

What is the fourth estate?
Why is it important? Did it fall? What caused this?
I'm not claiming I have the only answer or to do a full treatment here on all the factors, but I do believe there is a set of key factors that explains everything else rather nicely. Journalism as such stopped adhering to their own virtues and values. This caused a huge collapse in the entire system over time. People vote with their feet, they sensed this change and started leaving the 24/7 news cycle in droves because unconsciously they knew there were problems, even if they couldn't articulate them.
This is important to notice, the change in participation seems to be a clear signal that people felt they were being deceived or lied to or that there was something missing from the story they were being fed.
Here is where I make my case, with references to past videos that help to explain the framework I'm using to make sense of the world.
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Animation by Yana Petkova - music by Rizzi - editing done by Michál José
Signals: https://youtu.be/CaQnlg1TwX0
Unconscious: https://youtu.be/fpP74E-ouFY
How I process events: https://youtu.be/OyxCTDCaE6s