I would love to see social media as it exists die a quick death, for about a dozen reasons. It caters to lowest common denominator content because there is no barrier for entry for content “creators”. It gives the appearance of having an audience, although that appearance is largely from people self-deluding themselves.
Charging isn’t the solution, although what I would like to see is the creation of a paid “Pass” that allows free access to content on a number of platforms (e.g. websites, etc). I think that’s a viable alternative, and it provides the possibility of having content platforms work together to offer a truly better experience.