I'm not quite so pessimistic. It's important to remember that the actual practical purpose of the extant corporate social media* is to convey targeted advertising; i.e. an optimization (possibly the last optimization) on American management of global supply chains. Those supply chains were already starting to be optimized past their breaking point: flooded with dissatisfactory junk, easily spoofed by low-quality sellers, on top of broader externalities besides. And now, they have now been blasted into fine dust by a failed presidency partially funded by the social media and online advertising barons. It may yet be something of a self-correcting problem, albeit having done substantial damage in the meantime.
*Twitter is now a fully dedicated advertising campaign for Elon Musk's program of white supremacy, with financial returns no object. It's not quite going according to plan. By this time next decade, the Twitter microblogging permutation of the tech may be thoroughly killed, and if not it'll be disgustingly cringe. Who do you think you are posting like that, Baby Trump?!?!
How sad that Altman's shell corporation's property insurance has to pay for this guy's tedious status anxiety