There are ways to fix the issue, but it wouldn't be 'profitable'. It probably could not be run as a for-profit company. It would also necessarily be deeply intrusive; there's no way to beat some of the problems that make dating apps such a pain in the ass without also giving up a lot of privacy to the company running the app.
You've got a couple of issues going on. First, women--and some men--end up getting harassed on these platforms. Related to that, you have people using them that simply aren't safe, such as people convicted of violent crimes and sexual assaults. Second, you have a number of people using them to cheat on existing partners. Third, catfishing and scams. Fourth, the profit motive of the company means that they aren't really interested in seeing you finding a partner at all.
For starters, you'd need to have a system that required your real name, and would require verification on the order of opening a bank account built into it. (Yes, that means that you'd need really strong security.) They would need to run background checks, and look for things like criminal history, and searching tax records to make sure that you weren't filing taxes jointly. It would also forcibly populate fields about e.g. how many children you have. You'd likely need to set it up with geolocation (both GPS and WiFi); trying to use a VPN or any other privacy-centric processes running would prevent the app from functioning.
Rather than subscriptions, you pay a single fee up-front, and activate/de-activate your account as desired.
For harassment/catfishing/scams/paid sex work, etc., you could create a reporting system that would result in permanent bans for anyone found to be engaging in those behaviors. You'd likely need to also have systems in place and warnings against moving conversations to other platforms (e-mail, texting, etc.), so that harassing and scammy messages could get reported easily. Catfishing would be much more difficult if accounts were linked to your real identity.
This is just kind of brainstorming. As I said, there are ways around all of the issues that people have with apps, if they're serious about meeting people. You can't fix hook-up culture per se; someone can lie to you just as easily IRL as they can on an app. But you can at least remove the worst trash from apps.