Why bother reinventing it? The only social apps that have ever been needed are basic chat apps (group or private) and tools for meeting up in real life (such as group chats).

Everything else has always only ever been fluff.

Or we can let it become a relic.

I think this will be the case, part of the charm of early social media was everyone was authentically oversharing. That got people in trouble or they embarrassed themselves. That's why snapchat with automatically deleted posts got a foothold, there wasn't a permanent record of your embarrassing fuck ups.

That will not happen again, we won't be so collectively naive and any new social media will be taken over by PR + brand advertisers almost immediately. Just look at how threads started.

In my life this has been replaced by group chats on WhatsApp, iMessage, Signal etc

You mean make them as they originally were? Sure, but better learn lessons about how FB ended up such a shithole while still massively used, or you will just repeat that lesson (while massively less successful due to initial momentum)