I think people are quick to make this about age - it's really not. My parents both use social media way more than I do - the only ones I use are this forum, YouTube and LinkedIn (the latter only because it's part of my job). I know early 20s people at work who don't have any social media profiles at all. I see absolutely no correlation between age and social media use - perhaps with the exception of the much older generation who never moved onto using smartphones at all. There seems to be as many over-50s on Facebook as there are young people on TikTok. It's just horses for courses. Nearly all demographics have become dopamined to the hilt by the poison they've picked but some want to pretend it's only a problem for one particular set of people on which they would like to blame all of society's ills.
Social media - like all tools - is really what you make of it. Unfortunately, too many people use it in ways that are conducive to self-harm, though not always knowingly. On the one hand, I think consuming the right kind of social media has made me much more wise to certain aspects of the world we live in - but like Pandora's box it comes at the expense of occupying my time, occasionally leaving me misinformed, and on rare occasions inflaming emotions that are unhealthy.
I would say some social media use is fine - in moderation - and only when subscribing to reliable feeds. I try to only follow YouTube channels that cite sources (which a lot of them do these days). Also try and not get caught in death loops or doom-scrolling short-form content. Easier said than done.
The election season is going to be very difficult for me in this respect and I expect to utterly fail at moderating my use when the US and UK elections are happening.