Facebook’s market cap of nearly $1 Trillion boggles my mind. They produce nothing of value to society or human flourishing. If they disappeared tomorrow, you could easily argue the world would be much improved.
History will eventually show them be the 2020’s poster child for ridiculous, asinine social-media valuations.
They're part of the entertainment industry, and your argument is valid for that entire edifice, which includes most of the "news" media as well as all pro athletic activity, and a good bit of college level.