FB and friends are selling a product that's pleasurable, possibly habit forming, has big negative externalities, and presents all sorts of non-obvious risks to consumers. This is the textbook case for regulation. Some future iteration of the GDPR (or similar) will eventually outlaw FB's business model, at which point non-toxic social media will hopefully emerge, and we will realize that "potentially connecting everyone to everyone else, everywhere" is something that can be done ethically.