It's social mass media that's the problem
Facebook Inc., the first half-a-trillion dollar company, built not on mining our world. Instead, it profits from mining our minds. It takes experiences, thoughts, ideas, lusts and fears. Facebook mines who we are turns this into money. Selling us new ideas through targeted advertising. It has a near monopoly on the Social Mass Media Mind.
Facebook's riches recenter other companies. Brands moved from advertising products to instead emotionally charged branded content. They grasp at deeper at our sense of identity. Take Canadian Tire, in 2017 they lessened their focus on household products. Instead, they released a YouTube video centred on children overcoming disabilities.
Our friends are posting their statuses less and less instead of sharing these posts. Companies distributing social anchors grow and hook into us. Facebook delivers millions of humans so long as content proved is seen to be "shareable" enough.
With its "On This Day" feature, Facebook tries to remind us that it was once meaningful. A couple of years ago you would upload whole photo albums and write on your friends' walls. But look at your notifications and what do you see? An acquaintance who became a promoter still inviting you to a club you’ve never been to and the like.
Humans tend to choose a small immediate reward over a more substantial delayed reward. In this case, the small immediate reward is reading one more possibly interesting post on Facebook, and the delayed reward is... pretty much anything else. If we're lucky, people will become aware of this bias and start making better decisions, aligning their immediate rewards with their choice of distant rewards.