I guess for me it depends on what the law considers "social media".
Is something like the bulletin boards we used to have around the late 90s/early 2000s social media? What about chat rooms? Local social web sites for the school or your city? I think a lot of these things can even be beneficial, if I think about my own experiences as a somewhat introverted teenager.
And what about things like Netflix, Youtube, Podcasts? They can be just as harmful as TokTok and Instagram. Especially on Youtube you have a lot of similar content.
I've found accounts that claim to be official accounts of children's shows - maybe they even are - and which are full of nonsensical videos, just randomly cut together action scenes of multiple episodes. It's like crack for children. Of course YouTube doesn't do anything, they want you to pay for YouTube kids. And the rights holders want you to buy the content, so they leave the poor quality stuff up.
The thing is, exploitative content is always going to be created as long as there are incentives to do so. You can ban stuff, but it's whack-a-mole, and you are going to kill a lot of interesting stuff as collateral damage. The alternative is much harder, change the incentives so we can keep our cool technology and people are not awarded for making harmful stuff with it. But that would require economic and political changes, and people don't like to think about it.