The reason this is relevant is because the dates for these things start in the mid 1800s. Vin Mariani was made in the 1860s, Coca-Cola was inspired by Vin Mariani and came a decade or two later. Suffice to say the coke craze spread pretty quickly. And it's not like this was coke-lite or anything like that. It was genuine cocaine, same as we have today. And you had similar mental and physical consequences atop raging addiction.
It wouldn't be banned until 1914 and even that was due more to racism than concern for its effects. The New York Times ran a story in 1914 decrying "negro cocaine fiends" [1] which is what finally started the push to it getting banned. The only reason it took so long is because people were addicted and tried to ignore or set aside the negative consequences of it all, or even deny they existed. And that was pretty easy to do - Edison and Grant don't exactly rank near the top of your list of famous druggies. Nonetheless, the consequences were real and widespread.
The point here is that if you go back to the times before 1914, it'd be easy to imagine a future full of an ever larger chunk of the population degenerating under the influence of an ever increasing number of cocaine driven products. And in fact it would have seemed odd to predict anything else. Because when you're predicting the future you never predict 90 degree turns, because they sound absurd. Yet it's paradoxical because one of the few things you can guarantee about the future is that there will be countless more of these 90 degree turns.
[1 raw text] - http://www.druglibrary.org/schaffer/History/Negro_cocaine_fi...
[1 New York Times paywalled version] - https://www.nytimes.com/1914/02/08/archives/negro-cocaine-fi...
I agree with your broad premise about social media frequently being a poor representation of day to day life. The it's all shit part probably implies you're at least somewhat cynical. It's clearly not all shit, plenty of it certainly is. People frequently live different quality of lives vs their peers in fact; some people live amazing lives, some people live horrible lives. In a developed country, by far the largest distribution is likely to be a mixture of good and blah, with some occasional amazing and some bad thrown in.
> We need to drop this total farce of a behavior and stop conning each other if we hope to rise above it.
That behavior has always existed, it will always exist, so long as humanity does. Nothing can change it short of altering humanity through technology (and then we're something else), forced evolution (which we have begun, first pitch of the first inning; but it will probably take hundreds of years before we very substantially alter what we are; and we may make these things even worse, sharper). It's hard wired signaling and competition built into human nature, all the way down to the most fundamental aspects of what we are, including the pursuit of reproduction. Social media is nothing more than an aggressive, in your face, projected expression of it. It's the expression of many of the driving forces of human nature, amped up: sex, lust, attraction, status, materialism, greed, competition, envy, jealousy, pride, fear, validation, anger, inspiration, with some awww kittens & puppies thrown in. And that's also why people are drawn to it so intensely, it's a drug rush.
You missed an important checkmark on realism: 'we' can't rise above these things, humanity is these things. That's the actual reality. And it isn't going away, people will be complaining about all of this stuff in exactly the same way 20 or 30 years from now, except this will all seem tame compared to what will occur in the future: it will get worse yet.