I tend to agree, although I think the devil would be in the details of how you apply such a thing.If they aren't going to do their job, I see no reason for them to have special 1st Amendment carve-outs that no other citizens enjoy.
In any case, I think the problem is that pretty much everyone in the main-stream press was convinced that Hillary could not possibly lose. They were so convinced of it that, even before the election, they were writing their stories as if she was already in the White House. They simply didn't see the writing on the wall.
When the election was over, and Trump won fair and square, they just couldn't believe it. I mean, they literally could not make themselves believe it had happened. So, for the last three years, they have been living in this delusional fantasy world, where Trump really did not win. Hillary was supposed to win by a landslide. Some terrible mistake happened, though, and that's the only reason Trump is the President. What exactly that "mistake" was, they have no idea, but they're going to keep on fishing, desperately believing that they could not have been THAT wrong about the election, and so there MUST be something out there to find.
What it comes down to is their own egos, and their inability to accept and admit that they were wrong.