Instead of quitting social media I used the approach of use it a lot less. I seriously scaled back by Facebook usage and when I did, my mood improved considerably. I chalk it up to not getting all the daily anger and outrage Facebook tries to feed us.

Now that it looks like the worst of the pandemic is behind us (hopefully???), and people start getting out more and seeing people in real life, I think Facebook usage will decline accordingly. Facebook got a serious bump due to the pandemic and now that things are subsiding I expect so will Facebook usage.

As has been pointed out, I think we will see Facebook usage decline in the first world as the existing user base ages out and young people migrate to other platforms. Facebook's growth and popularity will rest with the developing world.