Using them judiciously or for business purposes is not very bad. I've cut down on my usage of social media and plan on keeping the usage to the minimum possible. I did notice a huge leap in my happiness levels and productivity after I uninstalled all the social media for 1 month.

This looks like a good step to regain your sanity because yeah as you grow popular, the dependence on SM increases and then the real problem starts.

But then Social Media brings in new avenues (like Steemit or traveling or work opportunities too)

A balance has to be maintained by the individual.