My Facebook feed turned from updates from my friends and family to garbage filled with politics, ads, suggested pages, and I stopped using it.
My Instagram feed turned from photos of my family and friends to garbage: again ads, recommended pages, later videos. Eventually I deleted it.
Twitter was close to that when they introduces algorithmic feed which showed stuff I didn't want to see and I was close to deleting the app, thankfully there's a way to still have the chronological feed without all the "likes" and "recommendations".
I keep using Reddit because I still can use it the same way as years ago - join communities that interest me and not see the stuff I don't want (even though they regularly push some more useless stuff to show me)
I believe social media can last long, but they need to find balance between monetization, innovation, and staying true to their users. Facebook and Instagram went way too far in alienating their users, and while they're still popular, they're declining.