I doubt that any social media platform owner wants authentic conversations - even initially.
Instead of giving arguments, I refer to Paul Graham's essay "What you can't say":
> http://www.paulgraham.com/say.html
If people were really authentic in their conversations, they would be in real trouble quite soon - and the social media platform on which these really authentic conversations are posted would be, too.
So, what social media companies do is enforce some kind of "editorial policy" (moderation) which makes the conversations that don't become censored still feel "somewhat authentic" to many visitors, so that this bluff only gets busted after some time in which the platform's owners can make sufficient money.
Instagram and Threads couldn't be more different. It's commerce. Beautiful people. Beautiful places. Shopping. Mainstream pop idols. Grifting influencers. Celebrity gossip. Lifestyle. Fashion. Interior design.
Facebook prefers the latter group as this is where advertisers thrive. The typical Mastodon user would have an anxiety attack when they see an ad.