Many people are doing this. The issue is that we spend so much time on pointless social media that we lose the track of what is really and truly important to us.
Most of the time it is not likes and followers. But it is a real connection with people.
I am still tempted to stop reading all the news, because they are equally bad as the social media.
One exercise that anyone can do is, whenever you want to check social media or read the news, stop yourself and instead sit still.
Planning specific time(junk time) for social media is also another good idea.