I use Facebook, a lot (again: all the politics in my town happens there), and almost nothing is fact-checked; I see one fact-check notice for every 1,000 bad posts I see. I feel like I'm on pretty solid ground saying that what they're doing today isn't working.
Meanwhile: Community Notes have become part of the discourse on Twitter; getting Noted is the new Ratio'd.
Accuracy has nothing to do with any of this. I don't think either Notes or Warnings actually solves "misinformation". I'm saying one is a good product design, and the other is not.