As far as I can tell, friendships are necessary for mental health. So those apps have a negative effect on your mental health.
In principle, they could also have a positive effect that counterbalances the negative. But in my personal experience, that's dubious.
Mobile tech and social media will be seen as the equivalent of tobacco companies in the history books of the 22nd century.
But if drownings had suddenly increased when ice cream was first introduced, that's a stronger suggestion that there's a relationship.
Kids' mental health went off a cliff at the same time that they started getting smartphones and social media.
Something else could be the cause, but we all know it's not, even if we earn our living from it.