Yeah I don't buy this idea at all. People freaked out over the ability to edit photos in dark rooms decades ago. Trust didn't deplete because pictures got tied to identities which in turn is tied to reputation (or by verifying "hey is that picture of the president k-wording a person with a gun real" with a trusted institution or something), etc.
There's other cool stuff that will come of this but the fact that this is the idea mentioned every single time shows a severe lack of imagination in our sphere.