I think that’s a feature, not a bug.
Most of the life updates people post on social media are the best of the best, which is what triggers so much fomo and trying to measure up. That’s why social media makes most people feel worse about their own lives. (Not to mention all of the other garbage these platforms try to push on you that you didn’t even ask for.)
If these people are really important to us, then we’d find other means of staying in touch: text them, call them, invite them over (if that’s feasible).
And if enough people get off social media, everyone else might also realize they need to make an effort to stay in touch with others, instead of the lazy post of glamour shots for the purpose of internet likes and feeding the dopamine addiction.
Unfortunately, that makes up a tiny fraction of most feeds.