If my kid is interested in the former I would not stop them, because it's an effective tool to learn about thinking, just like other toys... but the later I'm essentially treating as soft drugs, they ain't using that shit until they are an adult.
Just like alcohol, I think there’s nothing unacceptably wrong with it in moderation.
“Moderation” is a cope used by addicts.
Internet and computers are a critical part of everyday's life and will probably grow even more in the future. Childrens should definitely have screens and learn how to use it safely and smartly.
When my parents limited my video-game and television time during my teenagerhood (because it "makes you idiot/violent/whatever") it made my life worse, not better. Not being able to talk about the last video-game, movie or event, I had no idea what people were talking about most of the time.
In the end, I would rather be able to influence what my kids are using the screens for than introduce them to screens at a point in their life where I will have no say about what they are doing.