I don't think social media is a mirror of society. Social media's focused on attention and addiction, and is not designed or measured on presenting an accurate picture of what's normal. Not only the population on Twitter is not a normal distribution, the interactions and interaction style are not normal.

Social media has been around long enough that it's possible the crazy tech bosses you have seen may be an effect of the craziness of social media. But, then again it could just be crazy bosses.

I still agree with your first sentence. Plenty of room to improve. But I think the online world is the #1 component to focus on to make that happen.