While your comment aligns with the 16th-century meanings of those two words, Merriam-Webster now [documents the meaning the reporter used](https://www.merriam-webster.com/dictionary/flaunt) for flaunt as a second meaning, and it's no longer widely seen as incorrect.
> Flaunt vs. Flout: Usage Guide
> Although the "treat contemptuously" sense of flaunt undoubtedly arose from confusion with flout, the contexts in which it appears cannot be called substandard.
Merriam-Webster is taking the distinctly minority view on this, when it comes to dictionaries. When it comes to actual usage, something being "no longer widely seen as incorrect" is not quite the ringing validation for any common mistake of the masses that you seem to think it is.
A much better writeup with a listing of many dictionaries and grammar guides that take the correct approach is here:
