I think this is fair, but it's also somewhat predicated on the threat from deepfakes actually being a bunch of real people believing some big synthetic narrativ

I think this is fair, but it's also somewhat predicated on the threat from deepfakes actually being a bunch of real people believing some big synthetic narratives and presumably taking some action they wouldn't/shouldn't have taken if not for this synthetic narrative. That may or may not ever happen, but in any case it doesn't smell like a stable equilibrium. Personally, I'm more concerned that the social gravity it exerts will be towards broad solipsism, which smells like a very stable equilibrium wrt to addressing much that doesn't affect an entire population somewhat simultaneously/equally.