I don't think it's directly fixable, TBH. You can only create new types of use cases and someone could make a name for themselves there, so that you end up with smaller hierarchies where the elites aren't automatically at the top.

You can't go back and reorder a social media hierarchy. They just compound, like interest. Every person who shows up will follow the same people as everyone else and add a few more, so first come, first serve.

Social media has such a low barrier to entry (post "GM", "stack sats", or a selfie or AI pic, once per week or month) that there's no real way to catch up through effort or talent. You have to shine someplace else and that might carry back over to social media because we don't have silos.