I recently saw a tweet that for once seemed insightful: "the internet did to boomers what boomers thought it would do to us", presumably posted by someone under the age of 25.
Young people are vulnerable to social media, and your point still stands, but I am also under the impression that it has impacted previous generations to a far greater extent, breaking their link to reality altogether.
I'm 40, and grew up programming in my early teens, so I've seen the Web's entire arc. This social media stuff was fun for a time but it turned very dark, almost exactly in proportion to the money involved, like everything else on the Web, IMHO.
Also, the gamification of many things. Even HN karma. The thrill of watching the upvotes roll in! (even now...)
Is it the money, or just society in general moving into the space? Darkness is an inherent part of human life, and the internet is now the agora. For a social animal, any aspect of existence will have been gamified from the start...
I have a theory that older generations are much worse at identifying fake information on the internet. I clicked a few bogus banner ads (punch the monkey and win 100$) and got my fair share of malware from limewire, so I learned that you should treat everything on the internet with skepticism. Older people grew up with media that wasn't always accurate, but at least wasn't directly lying or trolling you.
Now the internet has been delivered right into their pockets and they aren't prepared for it. They see a video about ballet boxes being stuffed, and of course they believe it. Their friend Gladys shared it on facebook, of course it's real!
Young people are vulnerable to social media, and your point still stands, but I am also under the impression that it has impacted previous generations to a far greater extent, breaking their link to reality altogether.