For sure. He then goes on to mention "in democracies", but a lot of democracies are now failing, in part because the institutions like the free press are being directed by their billionaire owners, or suppressed. And the family ties are being impacted heavily by mass misinformation and propaganda campaigns online, where their publishers are actively pushing it themselves (major worldwide social networks are now state influenced and / or their top brass has subjugated themselves to the reigning parties and / or any countermeasures have been removed).
This was done intentionally, over decades, to try to push ‘trust’ closer to where it can be controlled. Religion, family ties (through propaganda), etc.
Except those institutions have long lost all credibility themselves.