Yeah, I think "vanity" is not totally the right term here, but I do think they have a point that there are diminishing returns with staying up on the news cycle.

For instance, I think there is a difference between reading some news daily and consuming only news. My father was in the latter category growing up -- I never really saw him read a book, but he was always reading a paper or listening to/watching a news program. Personally I find that I get more from reading books as they're afforded the space to go into depth on a topic. I think the author is trying to point out that that surface level news consumption is fine but probably not as beneficial as we might want to tell ourselves.

The one thing I've found most helpful news-wise, though, is that I find that it's one of the better ways to learn a foreign language to an upper-intermediate or advanced level. I relied heavily on RFI and other news outlets when learning French, with the added benefit that you're often getting international news the media doesn't report on here in the US.