I think something threaded similar to Reddit but without voting would be a nice middle ground. My biggest gripe with vBulletin style is how replies to earlier comments work and are so out of order.
Of course, that presents many other problems. A corporation using AI to steer what discourse is worthy of promotion and what isn't in social networks has already caused much harm. Many things can be said about it.
But as a thought experiment, I think it's an interesting one. Much good could be done, advertisers and financial interests permitting.