Because they're no substitute for friends you see in person.
Online friends were very important to me growing up, and still are today.
I answered, but to further clarify: online friendships are not sufficient. No one said they don't have their place, either.
Neither were a replacement for the other.
It's been the subject of study but it's impossible to truly reject the hypothesis due to the ubiquity of the effect - there's no control group. Obviously correlation is not causation, but I think the severity of the effects warrant further thought and investigation.