I think that's the right approach. Legally you could require every social media company that collects and sells data on its users to advertisers to allow the users to access their internal algorithmic interface (for their own account).
Now, what controls are on the internal algorithmic dial? Apparently that's top secret, but a legal requirement to expose the interface to the users seems reasonable.
Note that this might not affect what ads you get served (that seems more on the private business side, although banning prescription pharma ads makes sense), but it would affect what shows up in your feed, what content you get served, etc. You could write your own exclude lists, for example (i.e. if you never want to see content from MSNBC, FOX, or CNN, that would be your decision - not the algorithms, etc.)
Now, what controls are on the internal algorithmic dial? Apparently that's top secret, but a legal requirement to expose the interface to the users seems reasonable.
Note that this might not affect what ads you get served (that seems more on the private business side, although banning prescription pharma ads makes sense), but it would affect what shows up in your feed, what content you get served, etc. You could write your own exclude lists, for example (i.e. if you never want to see content from MSNBC, FOX, or CNN, that would be your decision - not the algorithms, etc.)