I think capping your consumption to a certain modest level is a good compromise. Reading none of it is probably the best for your individual health, but also deprives you of the information you need to be an engaged citizen in a democratic society.
Reading too much of it will just harm you, by negatively impacting your emotional well-being and potentially overwhelming your ability to process daily information, both news-based, and in your day-to-day life.
So, responsible consumption in moderation is the best compromise imo. Personally I get a lot of mine right here on Lemmy, which has largely replaced my "morning paper" experience, and rely on a handful of global sources to make sure I'm not missing anything important that doesn't make it onto here. Ground News is particularly good for that.
Then I also personally like to stay abreast of how specific factions spin things, but that's more due to a personal interest in how propaganda affects society, and I honestly don't really recommend it if you value your sanity.