People will have to assume that content is fake and it will force innovation to enable distinguishing between noise and signal. I wouldn't be surprised if it gets much better than it is now.
Discussion
What if that "innovation" is a global interface to the online world, enforced by a global digital identity system in which your actions online have direct consequences on your life offline, such as affecting where you can travel, whether you're allowed to have children or not, what you can buy and how much money you're allowed to save.
What if the people of the world openly embrace this system because the alternative is a world of chaos with 1,000,000 indistinguishability "real" versions of the truth?