The problem is that people are addicted to tension, by raising tension it fills a need, but the release of that tension is also addictive. Social media is just uppers and downers churned over and over. In one moment you can see some guy assassinated and then a box full of puppies rolling around and being cute. But that tension is only present at the extremes.
The point where social media failed was when the government agreed, at the behest of the companies, that platforms aren't liable for what is published there. So it has allowed a flood of inflammatory accusations that make it hard to find the individual responsible, where it would be easier to just take the platform to court like you would a paper, or a TV channel.