Look, I hate (Zuckerberg's) social media just as much as the next person and I would be happy if it were nuked from this planet, but firstly, a lot of this sudden age verification shit to "protect the children" is sus AF, leading me to assume their ulterior motives are surveillance and doxxing of anonymous online free speech, and secondly, I don't think we can put the toothpaste back in the bottle anymore similar how prohibition didn't stop alcohol consumption, it just moved underground.
As long as kids have smartphones, they'll find a way to use social media, or even make their own social media to organize parties, send nudes or flaunt their parents' wealth and bully the poor and ugly kids, the same way how they start drinking beer at 13 even though the legal age for that is 18.
Social media amplifies the worst of human nature, but you won't be able to change human nature. Maybe governments should regulate the amount and type of data collection social media companies can have from their users, instead of regulating their users.