No, this isn't true. I mean just for starters, if it were, why would they be getting rid of them?
Fact checkers are usually independent organisations that go with the scientific consensus on scientific information or will otherwise check quotes, look at context, etc for other claims.
The scientific consensus was non-existent and highly politicised during covid, and as a result, fact checkers got some things wrong or were far too heavy-handed. This, sadly, has destroyed many people's faith in facts full-stop.
But the alternative is far worse. We will get far, far more lies, by accounts that are heavily motivated to promote the billionaires' lies. I don't know if you've been on what's left of Twitter lately, but it's a non-stop, propaganda machine for Trump and Musk. And it got that way right around the time Musk turned up and got rid of the fact-checkers.
Again, I'm not saying fact checking couldn't be better, It certainly could. But the solution is to make it better, not throw the whole concept out.