You can't make it great again, because in large part these type of projects were built on a lie, and now everyone knows the lie.

The lie itself doesn't start out being a lie, but it rapidly becomes the lie in the aggregate of the choices you must make behind the scenes along the way emergent-ly from the centralized nature of any platform which is needed for moderation, and the requirements to operate as a business.

Any system with two or more mandates always fails the lesser of the mandates.

There can be no trust, Facebook and its analogues have used it all up.

You don't develop strong relationships by spending your time in front of a computer. Real friends don't seek friends on social media.

As with any communication channel today, you also must capably defend your platform from all manner of nation-state threats that now use 5th Generation Warfare on individuals through social media. Propaganda, Isolation, Torture, Radicalization. If you don't know a thing about these very dark things, there's no shot in the dark where you can actually come up with something that works as a stopgap.

The juice simply isn't worth the squeeze because its a blackhole, and once Scylla has you she pulls you in.