There's no alternative. The only other option (for Facebook and content moderation) is to shut down the shop & return equity to investors, or do nothing and wait for the platform to blow up. And even then someone will make Facebook v2.
Just the economic incentive to cut moderators loose and use algorithms would be enough to do so if it were possible. After all you can buy a decent amount of compute power for 30+k/yr, that will certainly deliver more than the 100 or so QPD[ay] form a content moderator.
PS. I'm sure that most of the work is being done by algorithms anyhow.
