Eh, sounds like cigarette manufacturers defense. Social media is addictive. They know it is, they leverage that to make money. They have some responsibility for their products affect on people.

Tobacco companies knew smoking contributed to a rise in lung cancer and hid that from the public. If there is something like that being hidden about social media, then they should be held accountable for it. However, I doubt that's the case as we're all here discussing it. We already know it's bad to consume news in excess.