To me this statement reads as both inaccurate and ignorant of human nature. Social media was actually better when it was about individual ego (Myspace/LiveJournal); as obnoxious as that can be, today everything is worse because of petty tribalism. Most conflicts on social media are inter-tribal, whether it’s racial, political, national, or feuding “stan” culture groups. The worst problems come from groups who organize on platforms like Discord or Kiwi Farms to direct harassment campaigns against perceived enemies (or random “lolcow” victims).
Simple observation of the present world and history will tell you that a platform focused on “collective improvement” will only appeal to a small subset of potential users. Of course such a platform would not be a bad thing. Places like this (such as The WELL) used to be common when the internet was dominated by academics, futurists, and tech enthusiasts. But average people are not interested in this kind of platform, and will not participate in good faith in such an environment.