I have a once close friend who moved out to Oregon from the east coast. I talk to him every two years when somebody dies at home. Knowing that his kid won the pinewood derby doesn’t give us anything more in common.
Whatever it is, it’s not a substitute for real two-way interaction. Meaningful relationships don't survive on impersonal status updates broadcast to a general audience.
If it involves communication back and forth (e.g. telling each other what happened at work) that’s something. If it’s scrolling passively through status updates or photos, or posting updates on yourself to nobody in particular, it’s junk food.
All my close friends, I direct message them almost everyday.