The problem with trying to "fix" society by eliminating any one element, regardless how big or small, is that human progress is inevitable. Sure, maybe humanity would be "happiest" if it were somehow locked in a pre-industrial agrarian society in perpetuity, but our desire to reach out above our current means is inevitable. You can wipe away social media, the internet, hell, all modern technology, but eventually, all that shit will arise again, and we'll be right back where we are now.
I've thought about this a lot, and I honestly don't think there's a happy end for humanity. With our long lifespans, extreme adaptability and the capacity for written language, we were pretty much designed for forward progress. Yet our brains are still running ten thousand year old code optimized for a primitive hunter-gatherer lifestyle where everyone lived in small social groups. Mankind is too smart for its own good.