In fact, Wikipedia has already done this:
"The English Wikipedia formally deprecated the use of The Grayzone as a source for facts in its articles in March 2020, citing issues with the website's factual reliability."
https://en.wikipedia.org/wiki/Wikipedia:Reliable_sources/Not...
Taking into account the strength of the arguments and those who did not distinguish between those options, there is a rough consensus for Option 4: "Publishes false or fabricated information, and should be deprecated".