No e-mail/phone number requirement. New uploaders must be vetted by moderators/quarantined. No video support. Use AI to detect if something is a meme then shadowban the post. Design must look like https://www.fotki.com/
Well, I was asked what I would do, and what I would do is...
Instead of supporting videos and memes and trying to compete with Facebook, Instagram, TikTok, Twitter, Tumblr, Bluesky, Mastodon, Reddit and EVEN IMGUR
I'd focus on images and then my only competitor would be Pinterest, and I wouldn't have to deal with all the complexity that comes with supporting video.
Why would anyone bother ? I think you didn't read the request completely.