Misinformation and scarcity of quality information on social media platforms was bound to happen when these platforms hit critical mass. Moderating SM is damn near impossible to do effectively. It is also easy to game SM. From fake clicks/views (bots) to old accounts used for astroturfing etc, the information market is not at a level playing field.

And since they are all run on some form of hyper-intelligent ML algorithm, none of it from a user perspective is intuitive anymore.

The bigger risk in my opinion is how SM and use of it on digital devices has impacted human behavior. More specifically, psychologically. Dopamine hits and instant gratification must have rewired our brains in the past ~2 decades.