Ironically, by banning advertisement, you would eliminate one of the biggest drivers of change in social networks that cause them to die. Not all of them, of course, but one of the biggest by far. In a strange twist, you might well save the social network from succumbing to the cancer it's leadership always inflicts upon it.
The qualities that make a social network useful for the purpose of allowing social networking are almost completely at odds with the qualities that make it attractive to advertisers, almost to a comical degree:
* Privacy controls and default-enabled secure settings hide information from advertisers
* Securing people's social circles from advertisers reduces their ability to target
* Protecting people's photos from being co-opted for use in apps or scanned for auto-tagging reduces reach
* Policing outrageous, clickbait, or controversial content reduces the main clients social networks have for paid promotion
Basically, the ideal social network would either charge a base subscription fee and provide an ad-free experience, or would be free, and be entirely subsidized by the Government. I cannot envision a private company willing to provide a user-centered experience that would be a net good for the userbase, because everything the users want and need conflicts with what the network would want to sell to advertisers.
Quite the contrary on the second point, with regard to a Government-run website, you'd have a far stronger claim to the rights of free expression people regularly (erroneously) attempt to claim on privately owned social networks.
Or does your entire point begin and end with "government bad?"
there are plenty of products more than number of newspapers out there, if you are not happy with these platforms you can start your own far to easily too.
Just the way newspapers are dying so will facebook, twitter, instagram and many others. We only need for the next big thing to rise.
On that day people will lament how awesome was Facebook that helped independent writers, journalists and influencers and how the new thing is ruining the world.