For instance: 'Options -> Symbol Art -> Show only Friends / Alliance Symbol ART'
This is a great idea, if there was also an option to remove the display of symbol arts from the player shops it would be perfect. Maybe even add them as separate options for those who join a friends alliance, but would rather only see the symbol arts of their friends. (I am not one of these people, but I assume they exist).
@Policroma-Sol would also be able to see his Hank Hill as Pain.
The only problem that would still persist is the inability to communicate. Even though there are many players who misuse symbol arts, there are also players who use them to communicate useful information or use them as a shortcut. Players who have their symbol arts turned off will not receive this information or may be less able to communicate with other players.
Having another option to be able to toggle mission symbol art display on or off may be a solution to that problem as I don't often see misused symbol arts during a mission. However, at that point i'm not sure if it would be more practical to keep adding options for them or to remove them entirely.