The definition of truth is quite a complicated one because truth is substantially a social construct. I wonder how this law works in practice.
The main problem about social platforms, IMHO is not rubbish information, that's everywhere including printed press. The problem is plurality. Internet was supposed to actually solve this issue, but centralised, obscure and algorithmically controlled echo chambers have reintroduced it.
The problem is, as always, when you put too much power into the hands of one entity...