Although there were some proposed solutions for this issue, when scaled sort was implemented, @nutomic@lemmy.ml closed all related issues, even when they weren't being solved by scaled sort. So, it's clear that since there are no longer any open issues about this, no one is going to care about solving it. Therefore, it seems like the only option is to accept this fact and learn to cope with it. At this point, I've come to terms with the fact that Lemmy is mainly a platform for shitposts, while Reddit is for everything else. When I look at the feed, I mostly see memes, US politics, and some tech.
Custom feeds may not be the most efficient solution due to scalability concerns. However, an alternative approach could be to make the metadata about the posts (votes, comments, etc) available through an API call. This would enable users to develop their own algorithms for content discovery and potentially create a more personalized experience. Users could then implement, share and install these algorithms using tools like Tampermonkey or other userscript managers.
You are overcomplicating the issue by suggesting a "favorite" option when there is already a "subscribe" option. At the very least, consider proposing something distinct that helps users discover more of the small communities they are subscribed to, rather than suggesting something that has already been implemented.