The most interesting way to go about it, I think, would be to prioritize breaking forms of interaction down to very basic forms. Most social media services are highly hybridized — post text, photos, videos, polls, checkins, etc., all in one place! Since this would be a modular server structure, the services don't have to be hybridized. Each could focus on being really singularly good at letting people do the one thing the service is most about.
Anyway, the idea is out there now, and I'm utterly incapable of actually making it, so if anyone wants to run with the idea, you have my blessing, no Nazis, no TERFs. Banyan would be an apt name for it. Or maybe Kludge.