Nothing is black and white and therefore you may be somewhat correct. Society and the world is a complex beast with many drivers and gears, however it would be silly to think it isn't also a big driver and is just boiled down to moral panic, especially for our younger cohort.

Even by my own personal account social media is addictive especially short form video content.

Just the addictive components alone and the type of content that is constantly served to young adults is a concern, not withstanding other issues with social media.