I thought about this a while ago and came to the conclusion that if my goal wad to keep information private that's not the function of a social network. At best you'll find a different company to abuse you or a permanent decentralized network where attackers can scrape everything if they are ever let near your circle of friends.
If your goal is to simply have a better implemented social media network you will likely face a network effect problem where nobody is on that platform - I mean technically MySpace still exists.