1. The effect social media has on people
2. What social media gathers about you
The comparison you made with video games doesn't delve deep into issue #1. With video games you play perhaps a violent game and the argument is that it might make you violent.
With social media the effect is different. Algorithms are affecting what you see, the echo chamber they create around you and can literary change your perception. This isn't even touching psychological experiments being done by companies like Facebook to see the effects to your mood based on what you see in your feed.
Video games haven't gotten there, they don't alter their behavior based on what you look at and do. They don't present other gamers that match your video game playstyle and likes and dislikes. They don't allow advertisements that specifically target your behavior.
Social media is next level. It enables front row access to: social graphs, voice print, biometric data, subversive content promotion. Mental health with bullying, it’s extremely pervasive with the connectedness afforded by 24/7 networked pocket computers that have cameras. Sexting and revenge porn is a thing. Not to mention FB use in Myanmar https://www.cnn.com/2021/12/07/tech/facebook-myanmar-rohingy...
Of course, pretending there are no sociological effects of the average person traveling 5X faster whenever they want is completely absurd but you are correct in what you said.