Kinda. MTG is ragging on Fox News, sure, but she's also both-sides'ing media outlets on the left with her full quote:
We have propaganda news on our side just as the left does
She's fishing for people to agree with her which legitimizes her claim that left-leaning news networks are just as untrustworthy as Fox News, which is an untrustworthy news outlet, but she doesn't say shit about Breitbart or OANN or any of the other right-wing superspreaders of misinformation.
So, she is a broken clock that's currently pointing at the correct time, but she did it in a way to sneak in an untruth or two in there hoping that people would pick up on that and amplify the message.