As before and as always; it can be both.
I find it difficult to believe it's a "hit job" because he's so influential and saying things that are so new (it's just not the case... he's just another of a thousand Social Media influencers trotting out the same Truther shyte).
I am MORE WILLING to believe that the story is being overblown as a distraction tactic: it does seem to be being turned into something far bigger than the myriad of other celebrity sex scandals, for no real reason that I can think of. It's not surprising and not shocking news about Brand. I saw a clip of a comedian on TikkyTok last night about this that really made me laugh (for it's truth) ... he said that the weirdest thing about the Brand stuff is that we're supposed to be surprised, as "Brand looked like what you'd get if you handed a child a bunch of crayons and asked them to draw a Bad Man"

... and it's true. When it comes down to it, we all bloody knew what he was and that there would be skeletons.
However as I said it can be both. All of the above can be true, with the allegations against him still being true. Rather than saying that it's all made up (just highly unlikely given how much would need to be soordinated to make that happen) - I find it more believable to suggest that the allegations
are real, but that these journalists have known about Brand for a decade or longer, and that they've not considered it particularly important to bother really pursuing.
So in short; It can be the case that it's a media "hit job", but that it's rooted in
things that he actually did (that have been swept under the rug for many years).