Any decentralized unauthenticated or federated social network faces the same issues around reputation, moderation and sybil attacks. Matrix, for example, has the same.
I imagine over time we'll get a growing economy of curation markets - users choose their own maintainers for allow/deny-lists and content discovery, effectively allowing them to use these networks in a way that is meaningful to them.
Some of these mechanisms are explored quite heavily by people in the Ethereum space - not necessarily with social networks in mind, but I think these kinds of mechanisms are going to play a more important role in our world in the coming decades (lest we go deeper into centralized control)