These bans, in my opinion, are not the right way to go. Who says that once you are 16+, you are mature enough to interact with the social media apps? I'd argue that if one has never used social media when growing up, it'd even be more dangerous to open the floodgate (so to speak) once s/he reaches 17. Then, that person is not going to know what to avoid and how to curb addiction.
Educating kids about the potential harm, and also making parents take some more responsibility seem like a more positive approach to me.