If the majority (vast majority) of users of the internet rarely break out of social media and you posit that social media is largely 'dead', then isn't the internet effectively dead for the vast majority of users?
Access to the real, genuine Internet people and places will be made invisible; protected by the gargantuan SEO-fed lipid-berg of AI-generated content, keeping the social media peasantry ever-corralled in the cattle pen where they shall be kept happy and fed by their keepers.
Is September 2022 the final Eternal September?
This is a critical distinction, because the former is a problem like "the water is too wet", like you can't really fix that. You can build new digital infrastructure though. That's a solvable problem.