I think this is a consequence of elite takeover of the internet. The culture you describe still exists, but it's largely found in places considered unsavory and uncouth by mainstream organizations.
Not trying to denigrate the third generation there, it's just that for them it's a mature product, like a TV or a car. They feel no need to tinker with what BigCorp is selling them.
I love it. Though FaceTokGram rolls off the tongue easier.
Those users were large numbers of mainstream non-geeky people, but they used websites on desktop computers, not through the walled garden of facebook on a phone.
Wasn't the internet solely the domain of the (techno) elite for a very long time? It's the masses that have wrecked what we had, the the "new" elite profiting off of them. Maybe the societal gains outweigh what we lost, but if you were part of the original elite 20+ years ago, you're now in a much worse place.
For example: the New York Times ran an editorial in the 90s about how the internet would have a similar effect to fax machines. They are an elite organization and didn’t care about the internet much then. Now, twenty five years later, they do care a lot about what’s on the internet.