We've seen a collapse in respectability of politicians, for example. Not because the politicians have changed even slightly, but because we have much better visibility into what they're actually like and how the political sausages are made. Pre-internet I'm not even sure how I'd be supposed to get my hands on things like the Hansard records. Billionaires are under similar pressure, look at the difference in image of Musk vs someone like Gates who was world's wealthiest before the internet got big.
I don't think the fairytales of entropy, randomness and incompetence exist. But I do think there is an excellent reason for that - up until around 2000 almost nobody knew how big a factor those things were. The discourse was gummed up by propaganda which was mainly myths of competence in the halls of power and it wasn't feasible to pick apart the mess because communication was hard.