There it is.....Social media helps you project yourself the way you want to be seen. The ideal self: as cool, as smart, and as attractive as you can possibly be perceived.
That being said, social media helps you project/express that ideal self to a countless number of people so easily without being barred by the social obstacles of anxiety, insecurity, awkwardness and etc.
People are inherently afraid of loneliness, they yearn for a connection and social media has made making that connection, for those seeking it (whether it is love, friendship, or just sex) a lot easier since regardless of your flaws since you are able to show your ideal self.
Edit: I must add though, when it comes to online dating because it is so easy to project the ideal self it gives a trade-off :having an excess of choices to pick from perhaps making us even pickier.
While you can present yourself better, you have to, because everyone else is doing exactly the same thing.
I see a parallel with the music production business. Decades ago, to break into music you needed a demo. This was done in a professional studio, cost real money, took real time. Then we saw a blitz of inexpensive studio gear, and everyone and his brother became a music producer or cut their own demos and got really bold and cut their own albums.
But music didn't get any better. It got worse, because now you wade through a wave of amateurish crap in search of a gem.