It's very dangerous for the ruling elite. Yes.
The elite is in situation where they have to find new ways to control the masses as consumption of traditional media is in decline.
Little bit like back when the peasantry couldn't read and TV was not available yet. They made the masses to go church back then where the elite lectured how peasantry should behave and what to do.
Well, is there such a thing as "traditional media"? It irks me to NO end when I read suppositions (not yours mind you) about the media outlets (their self-appointed role of "preserving freedoms") or the power structures (the "sanctity of the public job") and the like. If one were to just scratch the surface of the role of the media in American life, just a scratch, the stench of propaganda will quickly follow. There were, and are, times when the immense majority of media outlets are nothing but a mere sub-departments of the Department of State. They do very little to no investigative reporting, and the spectrum of what can be discussed is a very little and narrow band of topics. And the politically correct environment made things much, MUCH, worse. It perpetuated the perception that nothing negative is to be said at any time, even if it's true, and reversing it could bring about major change to one of the parties. If you're a grown ass adult, and you can't stand hearing someone else criticize you, what you do, or something you said, you're not an adult, you're a child. And this is exactly what the elites have cultivated: a society in which nothing negative is ever said, and those that come out and say it are quickly shunned and told that they're "losing it".
Going back to the media... wanna know which media outlets tell you the truth at all times? Those that deal with investing money. They have to.