I generally agree with your point about the benefit of talking. I think there are many cases where someone would probably benefit as much from just talking to a close friend. But there are also many cases when a therapist can provide objectivity, discretion, insight and experience that friends just can't match.
This goes especially for actually severe mental disorder, because the thing there is, those patients have things going on in their head that most people can't relate to or understand(like irrational fears for instance). Psychologists however have a lot of experience talking with these people, reading and interpreting abnormal body language. And they know the sort of things you definitely don't want to say to a patient.
As for your point about social media, my personal view is that you're mostly right except I do think real mental illness is increasing, because loneliness is such a strong cause of depression especially, but also social phobia.
Throughout my childhood most of my interactions with people outside my family consisted or bullying by other kids and neglect by teachers. Because of this, it's deeply instilled in me that in any social interaction people are catalogueing my every mistake or negative attribute, or just ignoring me. No amount of conversation with other people(or medication btw) has helped me overcome this, but the only progress I have made was in therapy. What I really needed was help to understand why my brain works this way, and how I can be more aware of my own irrational thinking. This has helped me to obsess a lot less about social situations. Though I still have a deep mistrust of people at my core, I've at least been able to let some people in and learn to trust them. And accept that they really do like me for who I am.
While a bit rambling, I hope that provides some context on what a good therapist can do compared to speaking to friends and loved ones.