Well, it does when compared to InfoWars, Breitbart, Addicting Info, etc. It may also be somewhat better if you filter out their opinion programming (which is probably on the order of 90% of their programming) and just look at their straight up news stuff.
Also, "high standards" may be a bit wishy-washy. Looking at the axis, it may be with how much information/detail is provided as part of the story as opposed to its journalistic value. It does put Fox right on the line between "skews conservative but still reputable" and "questionable journalistic value," which, I'd say is probably pretty close to the mark. Some of their reporting is fairly decent, especially if it's something apolitical.