They all go back to the cost of living. That's the primary reason why people can't have as many children as they want, why they work too many hours in bad jobs, why they can't afford to go out and socialize so instead go on social media.
When I was a child...my parents, and most parents of kids I grew up with....sacrificed having BIG houses and every new "shiny" on market, to afford to have, house and feed their children.
Their priorities were different .....
I will agree, however, that social media is a HUGE part of the downfall of society.....it is full of lies when people look to it for what lifestyle is supposed to be...and that it lies to you as to what "real" friends are....SM friends are not the same as long term ones made in meatspace.