I tend to disagree. I have a few hundred friends/people I follow on Instagram and I see people post stories and posts about their life all the time. People are generally trying to portray "Look at me! I have such a cool life!". This is how it is for young people.
As for TikTok, I find myself scrolling with no end in sight. I think the studies on the addiction level of shortform content and its long term effects is going to be extremely shocking.
I can watch an episode or two of a show, maybe 30m-1hr, and turn it off. But TikTok keeps me constantly stimulated and I can easily forget what I am watching and "doomscroll" for hours. With TV I make the conscious decision to watch it. With TikTok I have to make the conscious decision to not watch it or open the app. This may be a side effect of how my brain works, but a lot of young people have similar experiences.
I think the main difference in our experiences is a generational gap in how social media is used.