I get that account recovery for sites with hundreds of millions of users is a huge burden they're struggling to manage but I'm shocked they didn't restrict such loose verification to the >90% of lower value accounts that aren't worth stealing and keep the stricter verif on high-value accounts.

The next obvious thing would be to let accounts the algorithm judges to be low-value still opt-in to strict verif. The vast majority of low-value accts won't bother flipping it on if the option is buried two menus deep, but many of the few low follower/views accts who are targets for some other reason (political, stalker, etc) - know they are targets and can self-protect by opting in, further reducing account hijacks.

So, before we even get to whether this 'loose' verif is "bad", those two simple implementation changes would certainly have cut the bad outcomes of a (potentially) bad idea by >95%.