"the company looked at the history of social media over the past decade and didn’t like what it saw… existing companies that are only model motivated by profit and just insane user growth, and are willing to tolerate and amplify really toxic content because it looks like engagement… "
Sure, technically. But good luck getting anyone to use your version over the mass adopted one. And good luck fitting back in if they decide to take their fork in a direction you dont like, which isolates your instance further and further.