No, it's called public interest journalism. In the wake of the Cambridge Analytica scandal it's quite logical that the public has an interest in knowing more about the inner working of of an opaque and powerful entity.
>"the news media must turn each cycle into a full on character assassination."
A "character assassination " by its very definition is an attack on a singular individual. You can not have a character assassination on a corporation.
>"Regardless of how I feel about FB, I'm more disturbed by the media pattern."
I'm more disturbed by your labeling something as "propaganda" simply because you yourself didn't feel it merited reporting on.