Yep, that's an example of what a social media based propaganda campaign looks like in the US.
Thankfully, though, there are very important differences to what it looks like in China. Correct the Record has only the resources of one political party, not the entire government, and it exists in opposition to a bunch of equally well funded forces from the other party. You're free to call CTR out on their bullshit, whereas calling the CCP out on its bullshit can easily lead to prison camp or death.
In the US there are meme wars, but in China there are none -- just a boot stamping on the face of a Pepe forever.