I think we had different experiences.
MySpace and Friendster and message boards and IRC were all pretty benign. I don't think MySpace had a single "algorithm". There was no newsfeed; it was just a personal Geocities basically. How were they "bad"?
Facebook WAS magical for anyone who was in college around the time it started. All of a sudden, you could connect with thousands of people around you. You could organize events, stay in touch with friends, share pictures and talk about your life. Back then, it was a very different site than it is now.
If you told me in 2005, when I signed up for Facebook, that someday the election would be swayed by it? I would have laughed at you. The biggest fear back then was a drunken picture costing someone a job someday. Now governments are being crippled.
I'm not venerating anyone. I'm talking about 15 years ago, not now. That was the whole point of the movie. Social media isn't inherently bad; human connection is a good thing. It's bad when it's fueled by a limitless need for growth and profit.