You are correct on the unaddressed issue. I’ve pushed this around a bit and there are two general routes: 1) Create public (official) versions of social media for public issues in the community with by building them (cost issue) or outsourcing the provisioning and operation to the highest bidder, or 2) Make the operation of the public social network a tax on the existing operators. They must meet the public need by providing the service.
The first option is probably the easiest to understand. The second option fits existing trends although the public must have absolute assurance of transparency. Actually transparency is the solution to much of this. My original point is that representative republics are not at all transparent and hence, not representative.
The other part of this, briefly mentioned, is to undercut capitalist elements with removal of the currency in favor of blockchain and Universal Basic Income. This is going to happen anyway as mundane jobs disappear. The assumption is that this will be part of the allocation of wealth by paying people who’s information is used by social media. The existing systems then require all member to be paid for their data thus becoming equity partners in the social media corporation. This is where blockchain could be used to do that while the old dollar currency is left to wither in the capitalist market. Or maybe is survives as a kind of gambling economy for those that want to play but the basis for living is the wealth that is shared via new blockchain contracts and currency.
Wealth, in whatever form, will be based on intellectual capability or products and that is impossible to hoard like goods based cash. So we have a market in which everyone is constantly generating value by interacting with everyone else and distribution is guaranteed. At the same time creativity is rewarded. This is a huge change to make but it is basically understandable and is done by building a new social order and intellectual based economy alongside the old capitalist system eventually replacing it. Easier than war, at least.