> ...that means that industry (and therefore industry jobs) is more useful to society. Because it is generating more wealth.

I feel that this is a rather narrow view, since there are a lot of companies who generate wealth by being detrimental to society at large (usually those who are just rent-seeking instead of continuously creating value).

You've confused utility with wealth.

They generate money which people can spend, so if that's the only criterion for wealth (it isn't), then mindlessly printing money is also useful to society (it isn't).

As long as we all agree that Facebook is one of the most meaningful and useful contributions to society, then yes, capitalism determines ideal value.