Fantastic range of answers, thank you everyone! I see a few recurring themes among all the great responses:
1. People really enjoy knowing they have a chronological feed that won't hide or downrank content from the people they follow. I'll add the "there's no ads" into this group.
2. Engagement is better. More engagement, better quality engagement, real people, real conversations.
3. Local or community governance and moderation. Rules that work in your local context.
Thank you everyone!