Yes.

Social media is a tool, as others have mentioned, but when you get down to brass tacks, everything is either a tool, food, or art.

It's a tool very few are responsible enough to use properly, and that causes great harm when misused.

Letting the oligarch class take control over social media was like giving an angry toddler a handgun, except the toddler can be bribed to give up the gun with candy and the oligarchs never will.

In the end, I don't feel it's worth the trouble of keeping around.