Not because I thought "the music of this generation sucks" but because it was easy to see the horrific way the Internet was going to go with walled gardens and centralization. I predicted 10 years ago if you uploaded and tagged photos on facebook you were giving up 100% of your privacy forever, as now every single photo of you ever taken (private or in public) will eventually be tracked to a name. I think generations coming up today really missed out on seeing the potential of the Internet, and what's it's become is nothing resembling the dreams of the 90's.
There are far more reasons to be wary and not participate in social media than "I'm just better than everyone".
And yes - it's a huge hit to your ability to continue an active social life. But things like SMS, Instant Messenger phones, e-mail, etc. still exist. The other downside is you tend to collect friends willing to deal with that, so it can kind of put you into a bubble if you don't reach outside your comfort zone.
I've found dating someone with an already established social media presence (e.g. too late to opt out, why bother) is a decent compromise :)