Isn't the fact we add too many contacts the core issue ?
And then it turns out that it's easier to look at funny stuff posted by anyone than diving emotionnaly into the life turmoils of our real close friends ? I firmly believe the simple solution is to have more than one account.
I know people with multi-accounts, and multi-hundreds of friends accounts and they all say they're annoyed by how irrelevant most of the content is by default even with as few as 30-50 friends on an account.
I have 20 and even then most of it is muted. I think it's the platform and the culture that the service creates which give rise to hiding stories and unsubscribing from people's feeds.
Either that, or I just don't care for random, short-form content.