I think it is reasonably well-documented that social media contributes to people feeling like they are less happy, less accomplished, less upwardly-mobile, less smart or influential than peers. Twitter, Instagram, Facebook all tend to show people succeeding at careers, relationships, investing, leisure, and non-stop exposure to all of that - despite lots of it being fake, staged, insincere - reduces the viewer's self image.
Unfortunately, social media is much more effective at ruining people's self-image and happiness than advertisers could ever dream to be