Look up enshittitication, it’s an interesting rabbit hole.
Basically, the idea is that there is a path companies go along where they first please users to build a user base, once you are bound to a platform and don’t want to leave (because “everyone” is there) they instead start to shift towards pleasing advertisers until they also feel trapped (because “everyone” advertises there). The final move is trying to squeeze as much as possible out of all these trapped people and companies. It’s not just social media, although this of course makes it most obvious at least for a trapped user base. But this also applies for any other big thing that “evryone” uses.