You might enjoy The Metamorphosis of Prime Intellect [1]. It addresses these themes quite directly.
The thing is, we're sort of talking (still somewhat hypothetically) about the Internet becoming more like hard drugs here in terms of entertainment/pleasure/addiction potential, which puts pretty much everyone except for (by HN standards) serious conservatives in a bind on slamming social media: liberals like me and the many libertarians on here usually feel that the War on Drugs has been a catastrophe, alongside pretty much all prohibition aimed at people who are turning to escapism because the rungs of the real-world achievement ladder have been knocked out above them.
I personally believe that explosive growth in escapism (see: opioid crisis) is driven by shitty opportunities in the real world. There is always going to be some set of highly potent diversions, and there will always be some fraction of the population that has a hard enough time with them to need professional help. But IMO none of Internet pornography, painkillers, video games, or crazy-optimized recommender systems are going to destroy lives and societies in job lots if those societies have high mobility in real-word achievement. So, not our society right now.
I'm probably biased having worked in social media in my life, but the flip side is that I also know how how the sausage is made, I think that sort of balances out. Everyone has to form their own opinion here, my point can be TLDR'd as: "decriminalize drugs" and simultaneously "fuck TikTok" isn't really a consistent worldview. It's reasonable to say "fuck marketing TikTok to children" alongside "decriminalize drugs", and I'd probably agree with both.
[1] https://en.wikipedia.org/wiki/The_Metamorphosis_of_Prime_Int...