I don't want to see "legal but distasteful" content (and I would also add: annoying, boring, stupid, etc.)... and what I mean is that I don't want it to be shown to me... but I am okay if other people show it to each other.
So instead of some global moderator (whether it be one person, or some complicated "democratic" process) deciding globally what is okay and what is not, I want many bubbles that can enforce their own rules, and the option to choose the bubbles I like. Then I will only be concerned about how to make the user interface as convenient as possible, so that the options are not only hypothetically there, but actually easy to use also by non-tech users.