I find it fascinating how people often talk about "social media" in the same way they talk about smoking or eating jelly donuts or getting spray tans.
It's seen as a vice, something enjoyable but ultimately "bad for you"-- but I think this bad reputation has a lot to do with what we have let social media become. We treat it like it's not important. Like it's superficial and for vain shallow people who practice puffery.
In reality it's the central hub of news, media and cultural distribution.
Social media is important and it's incredibly powerful. Increasingly, we see efforts to control it, to guide it and shape it to political and economic ends.
There is also a desire to monetize it which has been there since the start in many cases. Most of the things that make social media "toxic" can be tied back to these forces. (Most but not all!)
This notion that social media is unimportant and really not even something serious people care about has made it easier to co-opt.