The guy is complaining about incendiary content whilst repeatedly comparing Facebook to "Big Tobacco"...I think there is a lot of bombastic nonsense being thrown about.
And I agree Facebook is not the first company in the world to maximise attention with this kind of content. Go back to when political pamphlets started appearing in the 16th century, it was mostly salacious bullshit about well-known public figures being possessed by the devil or drinking the blood of orphans.
I am not even sure what the problem is anymore, let alone what the solution is...but this is not going to stop with Facebook, this is just a reflection of human nature (and yes, everyone has complained about this kind of "content", it ignores the fact that most humans enjoy consuming it).
(I think the most problematic part of Facebook is just that so many people get their news from there and, like every human that has ever existed, they have been unable to deal with that responsibility in an even-handed way...I don't know though. They are basically a dead platform anyway, it is mainly used by old people to keep up to-date with their grandchildren afaik...I don't really know anyone who uses it, and I have never used it myself).