Its a little bit of a stretch to call YouTube social media. There are tons of great instructional videos. The real kicker to me is that the government has passed a law restricting access yet they haven't determined how they're going to enforce an age check. It's wild that they passed a law without consideration to it's mechanics or feasibility.
Yes, but its also unregulated and full of shit, Moreover its designed to feed you more stuff that you like, regardless of the consequences.
For adults, thats probably fine (I mean its not, but thats out of scope) for kids, it'll fuck you up. Especially as there isnt anything else to counteract it. (think back to when you had that one mate who was into conspiracy theories. They'd get book from the library, or some dark part of the web. But there was always the rest of society to re-enforce how much its all bollocks. That coesn't exist now, as there isn't a canonical source, its all advertising clicks)