I see the merit in such a proposal. It's the linguistic equivalent to boiling the food you consume, instead of eating it raw with all the associated bad stuff.
The problem is, as you said, that this plan is unlikely to be as rosy as it's portrayed and probably has a lot of drawbacks in real life.
Interesting to think about and explore, though.
I mean... you would be basically taking a complex thing, transforming and reconstructing it. What we want out of social media isn't a simple, legible function. The positives. You'd have to discover them.
If someone starts building with the intitial idea above, my guess is that they'd end up with some sort of custom feed that draws inspiration and inputs from social media... but isn't social media. It's something else that you can scroll, read and whatnot.
I want to go to news.ycombinator.com/reddit.com/etc on any given day and just see a couple of paragraphs and maybe a few reference links to follow if I so choose. Spend a few minutes reading that and close it.
All of that in the hope of diverting my limited time/energy on Earth to endeavours in real life with real people.