Agreed completely.
In addition, a huge difference between traditional media, and modern "fake news" is accountability.
As biased as they can be, traditional articles always come with an author name, and published or run under the responsibility of the media themselves.
They can, and often do, give a specific story a slant which supports their point of view or agenda, but they really cannot outright lie, since they would be called out or even be subject to legal action:
https://www.theguardian.com/world/2018/dec/23/sicilian-journ...
"Fake News" have no traceable source, no attributable author, no accountability.