> see the incentive of limitless growth and capital accumulation at all costs turns out to be harmful, actually

One of the most harmful effects of the accumulation of capital is the accumulation of political power that accompanies it. We need aggressively limit the power that can be gained that way.

It's not clear if the profit motive alone explains it. I think a huge difference between the social media business model and most other profit incentivized enterprises is that because most it is free to use, customers pay with attention. Methinks there is most overlap between the attention getting parts and the harmful parts of recommendation algorithms.