I'm sad to say that I think this is the intended result of social media from the corporate/business point of view.
Instead of TV, with its advertisements being broad and un-targeted, people are building their own hell by searching for what they want. Then the machines learn get an idea what they want, and show it to them. Part of the nature of advertising is convincing people they need these things, otherwise they will be "out" (old, poor, unpopular, etc.).
Instead of maybe one ad in an hour (or a day) triggering you, you're bombarded with reminders of what could be, if you could afford it. Of course the promises are unrealistic and easily broken, but I don't think most people have the mental tools to realize that at the time.
There's all this great positive content out there too! Educational videos, science, all that. But it seems the impact of bad things outweighs the good, which just seems to be human nature - we regret things a lot more than we are thankful for what we do not regret. Even if they aren't selling anything to us.
It's true that we're comparing across the world now, and there will be someone better than you. But that's almost always been true, although for a lot of the time you didn't know who was better, or they were simply some distant name written in a book, easily forgotten. For example, I think few will rival Aristotle, but nobody seems to care about that.
Fear and regret are powerful motivators, but dangerous ones as well. If you can't act for some reason (lack of money, lack of opportunity/ability) it just seems to gnaw at you until you snap. I don't think it's any different than TV, except now amplified via personalization.