What I see very commonly(and what I experienced growing up) is that kids nowadays are given very, very little autonomy nowadays. Kids are confined to a very small amount of space where they aren't allowed to play, explore, or be out of sight of a caregiver. At school, they are expected to behave like little adults. Rambunctiousness and energy are shamed. Socialization is relegated to a small period of recess or extracurriculars, both of which are monitored. Exercise isn't done on a regular basis. In this environment, it's natural for them to escape to a digital world where they can actually do what they want.
When I was a kid in such an environment, I played video games for hours and hours. I once stayed up 40+ hours playing GTA. When I moved out and controlled my own life, the appeal disappeared overnight.
With that said, there's definitely something to the claims that social media is addictive. Reddit had me hooked for years. They are like skinner boxes. But it's only part of the story, and different technologies will probably cause different outcomes and levels of addiction. I don't mind my kid playing a Switch, but I don't plan on letting her have a social media account.