Younger adults have already moved on. Millennial are too busy with their careers and kids. I think it’s mainly the middle aged and older adults who are social media addicts. Eventually, there will be a backlash and everyone will move on.
I don’t spend any time with social media, but I would miss streaming video if I didn’t have a computer.
The people I observe who ‘can’t put the phone down’ are, hands down, the millennials. Doesn’t matter where they are, either - at a restaurant, commuting on a train or bus, walking down the street. Even at baseball games (where they presumably paid good money and took the trouble to get there) they are looking down at their phones way, way more than they are watching anything happening. It’s incredible.