Huge sections of the internet and entire companies would likely die off if Section 230 was removed. It would be pretty crazy if this happened. reddit for example.
If they do anything to Section 230, I assume it will be some kind of revision to handle the case of news feeds and page ranking algorithms, and potential fake users. If social media sites stopped manipulating content feeds and let things happen organically so far as provided by the First Amendment and relevant laws, no change would actually be needed. But if they want to assume a role analogous to Editor in Chief then they get to share the blame for what they push. That seems OK to me.