Social media is changing, but not dead. Maybe the idea of what we “want” social media to be, is dead.
There will always be a demand for social status. And, as long as there is sufficient demand, there will be supply. Eugene Wei[1] has written a lot about how online social media operates in the economy of social status. It applies to TikTok and LinkedIn alike.
[1] https://www.eugenewei.com/blog/2019/2/19/status-as-a-service