I do think there's one exception/problem: youtube. While there's a lot of pregnant spiderman-elsa crap on it, there's also tons of historical, educational, investigative journalism, etc etc etc content there that strikes me as distinctly more valuable than literally anything that's ever existed on facebook, tiktok or even twitter.
And in addition to the backlog, there's an economics problem. Having good, free, easy, available video hosting is a huge good. It's also ridiculously expensive (videos are big, and you have to render multiple qualities of them, and store them forever) and a hard engineering (network and software) problem (what tiny % of video upload constitutes 90% of the actual network traffic? but you also have to brace for videos from nobodies going viral and needing to be served to the entire globe).
So how do you fund something like this? Normally I'd say, well, damn, this sounds like a utility. But given the political climate we're going into for the next 4 years, and the fact that even healthcare is privatized (well, the part of it that can generate a profit... unprofitable customers are of course pushed to the taxpayer)...