Social media is a pretty wide term and includes networks where you mostly talk to your friends and relatives to networks where you mostly consume content from strangers.

The former has a clear benefit (especially where it challenges legacy industries with exploitative pricing like mobile phone networks) and even the latter can benefit you by exposing you to new ideas and information.

That social media is incentivized to push meaningless but addictive fluff over genuine communication due to monetary incentives is the point of TFA. This is a reason for making social media a public utility, not against it.