I'd argue that social media isn't inherently bad. It's social media that promotes instant gratification that is bad. Facebook, Instagram, TikTok - their purpose is to make you consume more content, quicker, so they can harvest data on your likes and dislikes and stop you from thinking too hard, which makes you less likely to spend money. Social media should be about letting people talk to each other, not about glorification of celebrities.
And the former purpose is beneficial for youth - it allows one to expand their view of the world through the thoughts, views and ideas of other people, while the latter makes youths into victims.