It's really not the same thing. The things you are listing, you can create many arguments about why they're good for humanity. It's a lot more difficult to do that for social media, especially terminally online social media usage. If social media vanished today, it'd be far easier to handle than if electricity, cars, phones or public transport vanished.
You keep mentioning they don't know life without it, that isn't good enough. It doesn't mean we should just accept it and move on. Like always, technology moved faster than laws and understanding of its impacts. We will see in years to come the long term impacts this has on humans and it won't be pretty. Smoking is a great comparison for this, it used to be cool and some companies argued there were health benefits, many many people smoked and many people grew up and "knew no different", is that a reason to not make changes? Absolutely not.