One thing that would make social media much better, is forcing providers by law to ensure everybody sees the same content.

Example: I can be on Reddit in subreddit A. You can be on Reddit in subreddit B.

We would obviously still see different content.

But ALL members of subreddit A MUST see the exact same topics in the exact same order with the exact same comments and likes/dislikes.

This would help build up a more shared “worldview” like mediums such as radio and TV did; you chose the channel, but everybody on the same channel gets the same information.

This would then allow the service provider and potentially government agencies, as well as users themselves, to moderate harmful content or false information more reliably.