Mastodon could become that. But, it would need to add some new features.
Mastodon has "editable posts". Which is great.
But Mastodon doesn't give you a "choice of home-feed algorithm" yet. Currently, Mastodon only support reverse-chron as its home-feed algorithm. (I.e., what some inaccurately call "no algorithm".)
And, Mastodon doesn't yet given users the "ability to moderate replies" to their posts.