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The early Internet was social media, but it wasn't so corporatized to the point of being ruined.
Exactly. The internet was always social, connecting people. Capitalism and greed have ruined the internet.
I don't care if people want to make money, and I'm even fine with ads (within reason) but all this ExTrAcTiNg VaLuE is making the Internet unusable and damaging humanity.
Social media, at it's heart, is inevitable. We will always find a way to share pictures, information, videos, etc. with each other. It's such basic functionality when you really think about it. We're social creatures and this is the most important thing we would do with technology.
The issue is specifically with platforms; how they consolidate power and who owns them.
I don't know what to do about it, it's one of the biggest problems we are going to continue to face in our time. I can't really armchair solutions for it now, but I think it's of the utmost importance that we recognize it and discuss it.
Social media is not inherently bad, it's the platforms.
To expand on that, all media with a negligible barrier to entry is social media. Which describes the internet as a whole. The commodification of such media is both unnecessary and parasitic. The only thing "social media" adds is accessibility.