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From a Canadian perspective, the CBC should have a social media equivalent that is publicly run, and all social media companies should be regulated under the CRTC
Social media is already regulated by the CRTC.

https://crtc.gc.ca/eng/archive/2024/2024-121.htm https://crtc.gc.ca/eng/industr/info.htm

If you're pro C-11, you really don't realize how bad this would be to give the government to determine what is "hate speech" and command companies to take it down.

My gut reaction, also as a Canadian, is quite negative to this idea. Are you interested in expanding on the idea? I'm always looking for new perspectives and to understand how my fellow Canadians are looking at issues like this.
One of your fellow Canadians really dislikes the idea of control. I also do dislike media being owned by few rich bastards.
I don't think having a state run equivalent is much better from a users perspective. The ability to snoop without warrants would be too great.