I wasn't old enough for a small Reddit/college exclusive Facebook so I don't feel too strongly about it.
However, I do agree that we don't have a true social platform (not a corp with other objectives).
We can bemoan this all we want but if they weren't doing it, someone else would've been.
Alternatives can be created over and over but as long as those are consumption-driven corporations, they will try extract every single second of our attention possible. That IS their business after-all.