To "be informed" is like to take a look at a chess or go board: positions are clear, black and white pieces are here and there, but it takes skill to really understand the current dynamics of a game.
Add media bias ("let's show the board at this angle that looks better for our side") and now we have "informed" population that's being surprised by reality every day.
I still fundamentally believe that an info overload (as long as you are scrutinizing your news healthily) is better than being in complete ignorance.
You say you fundamentally believe in one over the other, but you haven't made the case for info overload, and have even made some points against it (hypnosis, futility, etc).
I avoid news qua news as much as possible and try to read up on things after a month or so, when the heat has gone out and more sober analysis has taken place. E.g. I'm vaguely aware there was a plane crash recently and look forward to reading a proper writeup of that at some point, but I doubt there's anything to be learnt from diving into detailed coverage right now.
But probably more often than you'd expect. I see layoffs and I check up on contacts to see if they are okay. Major crashes or other kinds of disasters if I know people in the area. I see tarriffs and think "well, gotta grab stuff before that". I see issues with food and warn my family. Since a lot of my family is military I do need to check up everytime some chaos happens in DC. These aren't large actions but I do act on that knowledge.
This is definitely a case right now where I feel it's important to be informed instead of "letting it blow over". There may not be anything left this time. If you don't feel like it that's perfectly fine. But I'm genuinely looking for any ways to help, no matter how small.
[start] data --(meaning/interpretation)--> information --(interpretation/understanding)-> knowledge ----> ...
probably more levels. At any step one can take action.. faster if more to the start but also less thoughtfull/"correct". primal instincts are at the start
the whole point of news-machine is to never get to beyond information.. same as <2sec video-frame switching..
Too late for what? you are _already_ a slave to the system from birth to grave. If there is anything you can do, do it regardless of the news which is a distraction/propaganda.