As a father of 7, I can assure you that social media FULLY damages people under 16, the bullying, harassment, photos, and videos, have all happened to my kids (except the baby ofc). Social media is poison to underage kids. I will explain why.
My work is Senior It Engineer, I run a team of 12. Our job most of the time is basic company assets and integration/upkeep, but we also have the unpleasant job of dealing with irate parents and workers whose kids have done upsetting things online.
The sheer amount of people over 25 i.e. parents in this area, that have ZERO clue how to use technology or activate coded parental controls is staggering. I would say 90% of parents in my county have no idea what their kids are doing online because they don't understand how to stop them.
To this end kids are also obsessed with being "ONLINE FAMOUS" and will do anything for their views, not because they are bad kids, but because they don't understand the damage, what their antics are doing, can cause, this is down to the parents lack of understanding in technology.
Now this aside, to make my point. Social media for me is just a tool to post videos, I talk to my kids on WhatsApp but, this level of a ban would not affect me at all because I rely on YouTube 99% of the time anyway, and with EO content, because of it's Teen rating, I mark it as "not safe for kids". Twitch/YouTube are video/streaming platforms and for me not "social media" - Even TikTok I wouldn't classify as "social media" - That's Facebook/Twitter etc.
Hope this wasn't too long but as a parent, the dangers of social media for children are all too real. (Hopefully i don't come across angry here lol)