On the other side, it's an opportunity cost to doing something else. When you start learning anything about child development it gets a bit horrifying. For example, for young kids there are a bunch of stages to learning to talk. Watching video recordings doesn't fulfill much of the development. A lot relies on trial and error of interacting with someone speaking instead of passively watching something flat (or animated) that was prerecorded. For older ages, sitting in front of an iPad means foregoing motor development or peer engagement...or just building bad habits about fitness.
Also (assuming you were born in the 80s/early 90s), the internet of our childhood is VASTLY different from what it is today... Both in good ways and bad, but mostly bad ways.
Like you, I also think it's a disgrace. I had a friend who to me basically seemed like they didn't like dealing with kids, so just gave her daughter a tablet she was glued to at all times. I mean, young, I don't remember the age now but less than 2? She never made eye contact or any noise, just messing with the tablet. I can't help but think there's going to be a whole generation of socially broken kids. But, here's hoping I'm wrong.