My parents didn't really limit me going out. In fact, they encouraged it. But I found the internet to be way more fascinating compared to my friends. I did have friends and a 'normal' life, but I was an introvert by any measure. I had people to hang out with at school and places to hang out with friends after, but I never wanted to go out and goof off. I want to say it isn't so black and white.
That said, I do find kids' exposure to electronics reaching an alarming point these days. Parents I feel just tend to plop an iPad infront of them all day which keeps them entertained to no end. They are extremely hyperactive since those games require them to be but teaching nothing of value. I can't say that's definitely bad, but it is scary. Maybe that's what a generation before me thought about me, so who am I to say?
If I may give advice, I would suggest you limit access to games and especially ads. Ads definitely have an effect on kids and is the very first media they see that is designed to manipulate them.
Next, maybe download some fun but informative videos from YouTube? (Don't ever give them free access to youtube, trust me. Really). YouTube Kids from what I've seen is trash and has nothing better than subpar cartoons. There are interesting things I feel could keep them entertained but also benefit them.
When you take away access to something, make sure they have something to do that they find interesting. Not just you. A big mistake I think parents make. Encyclopedias aren't so fascinating in comparison to the entirety of the internet, and we just feel robbed of fun. Talk to them.