Tabloids and demagoguery have existed for as long as real journalism. I think it's odd to think that either one is going to replace the other entirely, although it certainly seems that at times one is more prevalent. Every era has its Creelman and Hearst, but most have their Menckens and Pulitzers too.
The New York Times' article about Arrington's questionable ethics was written with the general public in mind, most of whom probably know very little about TC and Arrington. If nothing else, now when they see a TC reference or an Arrington byline in some other venue (or if they click on a link directing them to TC), they'll take whatever is said with a grain of salt. Perhaps that's what you mean by "smart audiences can deal with bias." Unfortunately that doesn't change the fact that even the smart people need a reliable efficient source for startup news that isn't being delivered by people with a monetary interest in what they're covering... Obviously most of the people that are reading HN have enough interest in startup and tech news that they're willing to filter primary sources themselves. But what about someone in another field? Don't they deserve an unbiased, reliable, and informed source?
I don't think anyone can afford to be naive anymore. Even traditional journalism, by and large, was a sham--the "impartial" news media is still biased for the most part, they're just better at hiding it under a veneer of professionalism.
The New York Times' article about Arrington's questionable ethics was written with the general public in mind, most of whom probably know very little about TC and Arrington. If nothing else, now when they see a TC reference or an Arrington byline in some other venue (or if they click on a link directing them to TC), they'll take whatever is said with a grain of salt. Perhaps that's what you mean by "smart audiences can deal with bias." Unfortunately that doesn't change the fact that even the smart people need a reliable efficient source for startup news that isn't being delivered by people with a monetary interest in what they're covering... Obviously most of the people that are reading HN have enough interest in startup and tech news that they're willing to filter primary sources themselves. But what about someone in another field? Don't they deserve an unbiased, reliable, and informed source?