The "media" in "social media" doesn't refer to image/video/audio, it refers to "the medium being used". Twitter/Blue Sky/etc are all social media. Read it like "a medium being used for social interaction".
OPs is closer to the truth; the shift from network -> media shows a useful distinction between what the focal point of activity is.
Note that "social" (as in social interaction with people you know) in "social networking" is a requirement, while it is not in "social media". You may as well call it "parasocial media" since that is the way most people use it most of the time.
Thus 'social media' is primarily based on content, while 'social networking' is primarily based on social connection and interaction.
This delineation does not match the common usage of the terms as I understand them. If you want to talk about parasocial media then just use that term.
If anything the terminology shift was the other way, we called forums and MySpace social media back then even though MySpace is called social networking now. "Networking" back then was pretty restricted to business / self-promotion oriented stuff like LinkedIn.
I was also there. We (ie the people I interacted with) called myspace social media and considered discussion forums to be a specialized subset of social media.
We also considered myspace to be a social network (due to the friend graph) while forums were not.
The chans were a weird almost edge case. I think they qualify as social media but the lack of persistent identities significantly changes the dynamics (obviously).
I can understand what this means in the context of visual platforms like Instagram and TikTok. (Slight quibble on TT in that a number of very large creators there record from their cars, kitchens, or otherwise do not employ specialized production.)
In any case, what does "specialized creators" mean in the context of (primarily) text-based platforms like Twitter, LinkedIn, and Facebook? Does that mean they are not social media?
> On a network, people interact with each other.
On any platform that would be considered social media by any definition, popular posts serve as a place for people to interact with each other. They are more ephemeral than a subreddit, but they serve the same function.
I am honestly not trying to troll, I just don't understand the distinction.