As far as (1) goes, 90% of the content on Lemmy is just a Lemmy circlejerk, the remaining 10% is memes. What influx of “low effort content” could possibly make the discussions on Lemmy worse than they already are?
As far as (2) goes, you realize your data on Lemmy is open to everyone to scrape, not just Meta? Every single one of your upvotes is public.
Well-regulated capitalism on the other hand has resulted in an explosion of technological advancement like no other era in human history.
The key is regulation. Not too little, but not too much either. Some things, like minimum wage, are clearly under regulated. Other things, like mandating USB-C, are honestly better left to the free market (and I fucking love USB-C.)