There isn't a good alternative to Facebook (given the network effect and the legitimate features that Facebook provides), but it's probably important that there be public oversight of Facebook (and any other social media company that becomes large and powerful as Facebook).
We should also be asking ourselves whether an organization that has the power to be so influential in the destinies of nations should be run by executives who see every issue as a PR issue to be dealt with, rather than ones that should teach them fundamental lessons. If the leadership is so reluctant to tackle these issues head-on, maybe they need to be replaced with a humbler set of leaders.