What's the downside, kids miss out, might be excluded by their peers maybe even bullied? Would the parent/child relationship suffer? But would the compound effect be better or worse than exposing a young child to social media? I have no idea but my gut feeling is that people would be better off overall without social media. Just a gut feeling though and we shouldn't make policies based on gut feelings obviously.
You don't need to go to the extreme in either direction. Everything is fine in moderation. Kids are terrible at moderating (adults aren't great either), so use the screen time limits that Apple gives you.
