You may be right. But there is a good aspect to social media - for example, I own a very rare vehicle, with less than ~1,400 made in the 90s (and who knows how many are left). Before social media, we were all isolated from each other, but now we exchange a lot of advice and tips for upkeep and repairs. It has been a lot of help.
A friend of mine uses reddit to keep up with small sub for people with a specific medical condition. Nowhere else was she able to find that kind of support or information.
That's the great side of social media - connecting people who were otherwise isolated (mostly because of geography). I don't know if these benefits outweigh the costs, though.