It's not going to drive people back to Zuckbook or X. The reason why kids chose TikTok is they hate the censorship of the US platforms, and the CCP allows all sorts of degenerate content (in the Western versions) in order to destroy our civilization from within.
KIds are already switching over to Rednote. Let the games begin.
In my opinion, the real problem with social media is a catch-22. We have so many popular platforms, you have to have a presence on all or you miss out on a good percentage of your potential followers and viewers, which equates to ad and merchandise revenue. That greatly increases the amount of time and effort needed to reach your audiences.
On the flip-side, if we only had one social media platform that everyone joined, there would be a monopoly that could easily exploit their members' information and control content -- as many are doing to appease their ideologies and/or the current political climate/administration. That one platform would also have to be able to facilitate all the same capabilities as the platforms they incorporate.
Some platforms are better for posting snapshots users upload all day/every day. Some allow for succinct verbal and visual posts while others accommodate lengthy or unlimited amounts of information. Each attracts mostly the demographics that those platforms' features target.
Any rules that prohibit certain categories of content work both ways -- more open attracts people looking for that stuff, and more filtered attracts the rest. Just because OF exists doesn't mean everyone is interested in subscribing and paying for that content.
Anyway, the most idiotic, controversial stories on social media the last 5 years have been all the TikTok "challenges", which is no different that Truth or Dare without the Truth option!