I would say that social media can be good or bad depending on its usage. It gives users a platform to connect with people across continents. It allows for expansion of beliefs and knowledge all at the click of a button.
But, with its many advantages there is also the flaw of people becoming so self-absorbed by numbers that they base their self worth on the amount of attention they receive which is sad. As with anything there is always utility, it just depends on how the user wishes to utilise the platform.