Yes, the issue with the breaking news fiasco is that there's no more fact-checking built in. I believe that everyday people are just as capable to fact-check as anyone with a degree from Columbia J-School, but erasing something from the Internet is hard. News sites need to work in a way to show "this has been refuted as false" into their reports.
The top ranking story on reddit.com/r/news was constantly updated with corrections/clarifications and citing sources with their level of trustworthiness.
It was edited, but not until later in the day did someone suggest using strikeouts to debunk old material instead of "let's make sure we have the best info we have up here." If you're just editing the text, misconceptions remain.
