I agree with what you're saying; pointing a finger at one particular thing and saying "this gets suppressed" is a bad solution. In fact it probably opens the door to a whole new category of problems.
But... I think what we're seeing with political content is just a symptom of the real problem.
> Disasters, outrage, politics, polarizing topics - these are all popular topics both online and off-line, and spread quickly as town gossip well before Facebook.
This is true. But when information spreads through people's conversations with each other there's limits to how fast it spreads. There's also a lot of room for dialogue and different perspectives. If I have some silly conspiracy theory that I want to spread around, it's going to be pretty hard to convince the people around me that 5G is going to activate microchips that were injected into my bloodstream. They will likely point out that basic laws of physics don't really allow for that. But if I know how to game a social media algorithm[0] to connect me with millions of people that are susceptible to that kind of thinking, I could convince a shockingly huge number of them to believe it[1]. Especially if the social media platform isolates those people from opposing opinions and connects them with people that think similarly.
I think social media is like removing the control rods from a reactor. Those basic human flaws are now being amplified and capitalized on at a scale we can barely even grasp. And it really doesn't matter if Facebook, Twitter, etc. are "at fault" or not. It's a fundamental problem with this services and the problems will continue to get worse.
0. https://www.npr.org/2020/07/10/889037310/anatomy-of-a-covid-...
1. https://www.cnn.com/2020/04/13/us/coronavirus-made-in-lab-po...