Regulating the algorithm is my favorite answer. Ban the recommendation engine on large social media sites. Make it a chronological feed of who you follow. Make it boring. I don't know all the details, but something like this.

I agree, recommendation algorithms are a huge part of the problem. Consciously choosing what you interact with is a very important part of media consumption IMO and most social media sites give you very little tools to do that (no, having likes/dislikes affect your personalised feed is not enough, especially when that also becomes 'engagement' and boosts it everyone's feed in general). These algorithms should be dumber in all areas except spam prevention (and even then, if there's less stuff in your feed you didn't specifically choose to see, spam should be a much smaller problem anyway).

I want some kind of algorithm though. If some of my friends post a lot and some post a little, I want to see a more even split. And I want to see some posts from friends of friends, and from strangers who are posting similarly to my friends.

But as with pretty much every cardinal sin of late-stage capitalism - there are a whole lot of very entitled people, who are both very accustomed to and skilled at getting their own way, who are heavily invested in opposing any real solution to the problem.