Same. This is one of the major features of Mastodon for me.
It means I can collapse my feed in a way I mostly control so things I probably want to avoid permanently ( e.g US politics ) and stuff I just want to be able to control how much I see by default ( TV/movie spoilers , Sports results) show up just with my custom label that I need to click to expand before I see what’s behind it.
It’s not perfect but it absolutely improves the experience.