I don't use LinkedIn as a CV. I use LinkedIn to store and correspond with my professional network. Perhaps what you are referring to is that LinkedIn is ripe for a good competitor.
Or maybe not really a competitor, but a service that is actually focused on that use case. Keeping track of people you've met professionally doesn't seem to be what LinkedIn thinks it is or wants to be for, but it's the thing I like about it. You could argue I could just use the various "contacts" applications for that, but LinkedIn feels both easier and better to me. I look at all the recruitment/job search stuff as a somewhat lamentable side show that keeps their lights on.
I agree. Originally, LinkedIn filled the role of a professional, non-shady, social network. I could trust them with my data because they were serious, professional and no-nonsense. If they don't want to fill that role any more, perhaps some other site should.