If I was asked to "regulate" this problem of so-called "altmetrics", and the "attention economy" in general, here is how would I do it.
Twitter used to be based on SMS, but since 2020 it is just a gigantic website like Facebook. These two mega-sized websites are the primary sources of "altmetrics". If we take away the right to create these gigantic outsourced websites, what would happen.
I would place limits on websites that are comprised of so-called user-generated content. For example, if someone wants to run a website with millions of pages, they are free to do so. (If they could actually produce enough content to justify so many pages.) However, they are not free to have millions of different people author the pages. A website could not be a mass scale middleman (intermediaries) for people who wish to publish using the www. A mega-website doing no work to produce content, financed solely by selling people out to advertising could not, for example, supplant an organisation that employs journalists and editors to produce news.
By regulating creation of these mega-websites we could reduce the incentive for advertising. The mega-websites would lose their traffic and disappear. They would be replaced by normal-sized websites that cater to specific audiences.
Allowing a few websites to grow to enormous size while not having to do any work to produce content has been a mistake. Of course they can make billions in advertising revenue. It also allows any notion of egalitarianism in the www's design to be compromised in favour of a sharecropper model, so-called "platforms".
Without oversized websites no one would be able to publish their content to every website in existence. No website would be able to do zero work to create content and yet act as a middleman drawing massive traffic that can be monitised via advertising. That is what these mega-websites like Twitter and Facebook do. They sit between people who create content and people who consume it and sell these people out to advertisers.
The cost of publishing data/information to the www will continue to fall. The technology to make it easy will contnue to advance. We do need to be able to communicate in small groups, as we have always done. That is possible. We do not need to collectively use mega-websites with billions of pages run by a handful of third parties in order to do it. The follow-on effects of millions of people communicating via these third party websites are obviously harmful.