The foundation of liberal democracy is the idea that people are capable of thinking for themselves, making choices, and don't need to rely on kings, popes, presidents, or CEOs to tell them what to do. It's fine to doubt this. Skepticism of democracy starts with the Greeks (who invented it), and runs through Hobbes, Nietzsche, Mencken, Schumpeter, and Thiel. But it's self-refuting to see people arguing, basically, "we have to restrict people's ability to communicate to save democracy". Maybe you can square that circle, but it's hard to see how it can be done without undermining the original argument for liberal democracy.
My view is that, while the internet, social media, etc have raised real challenges, it's simple cowardice to back away from liberal principles because of people lying on the internet about this and that. The liberal experiment has worked well and we should keep running it.