It's been around for decades. Perfect photographic fakes (literally called "photoshops") are possible. Yet is there a great crisis of fake photographs taking over the news? Not really. The actual "fake news" barely even bother with photoshop (and those for whom it works, don't care about the quality). It's somehow still fairly easy to get context and at some point, you just have to trust a news outlet, just like you had to trust them for text-based news.
All we see is a trend of making it easier for people to subscribe to a bubble of "news" that fits their world view. The quality of the fakeness barely factors into this.