I'm probably a bit younger than the gp, but I can confidently say that all socializing has moved almost entirely off "social media" and onto group chats. Most people have a dozen or more combinations of friends and families on multiple apps, all trying to replace what was once easy.
I'd love if somebody would make a site based on the ~2010 expectations (not reality) of facebook. Ban any commercial activity and make people pay for it. I just want to talk to my friends and say "happy birthday" to somebody I haven't seen in years, not look at ads and slop posts.
Several people have tried over the years. We all failed, because it doesn’t work.
The economics don’t work because no one is willing to pay.
The network effect doesn’t exist, because real people don’t post enough to get the flywheel started.
All the dark patterns exist because that is what users reward.
Sucks but it’s true.