I don't think it is about getting less matches, but about having more options to express yourself and allow better filter customization.

When people make choices (swipe right or left) based only on pictures, they have a higher chance to make a mistake. Both on discarding someone they might like or accepting someone not compatible.

The more information that you can use to filter, the easier it might be to find someone compatible.

But some people lie. Some intentionally (by presenting themselves as different than they are) or unintentionally (the profile picture is old but they are lazy and doesn't feel like changing). Of course, by showing age you might get clues. But to filter the people who lie about intentions or about being single, etc, you might need other ways. Here a "feedback" by other users might help. For example: if someone says he/she is single and someone finds out is not, to have the chance to "comment" and say it.

Also, you can use game theory to "test" those things. For example: cheaters rarely can date on weekends because they are with their partners. So if you ask for a reschedule (from wednesday to sunday or from saturday to monday), chances are that they don't want to date anymore.

For me, I found a dating app that asked favourite TV shows and books. People who didn't bother to fill those optional fields were discarded, because filling them meant putting effort. Most people who want something casual usually put less effort. Also, their preferences told me if we had similar tastes and something to talk on a first date.

Yet people insisted I was being "unfair" by "not giving an opportunity" to guys who didn't listed even one book. As if my preferences didn't matter. That is the real problem, not being honest with our real preferences.

So to sum up, don't use an algorythm, let people filter themselves by varied and different fields. Then teach people how to look and identify which fields work for them.