This is not political correctness running riot. The study of the online proliferation of racism, neo-nazism, fascism, conspiracy mongering and misogyny is very important. Maybe your age blinds you from the reality of internet subcultures but there are deepening networks online which are corrosive to society. This has little to do with the GOP: women are threatened online on a regular basis, people of color are threatened online on a regular basis and these threats often manifest in verbal harassment, stalking and the release of private information. The anonymity of the internet provides shelter for deviant communities and it's important that the government funds scientific studies that give us insight into these communities.
To address bedstuy: I think that this study is more easily criticized without expanding upon the purpose of the study. Studying social media would be a poor use of governments funds if it did not have a easily demonstrated public purpose, which it obviously does.
Except the "study" has little to do with "the online proliferation of racism, neo-nazism, fascism, conspiracy mongering and misogyny" (and even if it did, it's still wrong, as even abhorent things like supposed racism and neo-nazism are protected by the First Amendment). From the piece:
The government has no business estimating people's partisanship and whether it thinks certain political memes are true. Which memes do you think the Obama administration's lackeys do you think will determine are "false"? Certainly not "progressive" memes. And why should the government or its agents be keeping a dossier on people's partisanship? That's essentially the government monitoring the political beliefs of its citizens and negatively labeling those who disagree. Is an enemies list far behind?