"Ah screw it, I ain't building social media again, let's just go play outside" wouldn't be a bad outcome, IMHO.

I like it -- if everyone set up their own websites, we would have way less monopolization, censorship, posts promotion. Even ordering of your "News feed" is already a form of content moderation.

What we need, is social profiles/media/content as a protocol.

An "email like" structure, rather than single company lock in.

Sounds like you just reinvented the internet :).