Will social media/the internet psychologically ruin humanity?

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What are the psychological long term risks to humanity of a constantly plugged-in, 24/7 social media and news cycle world? We have seen a lot of studies into how the "all-encompassing" nature of the internet and social media in 2020 has greatly worsened people's mental health. We also know that, now that the first generations to have "grown up on the internet" are becoming adults, the internet seems to have utterly destroyed entire generations of kids' social skills.

I am deeply worried of the implications for future generations. Generation Alpha (2010-2025 births) will be the very first generation to grow up their WHOLE lives with constant unsupervised access to the internet, with everything they could ever want available at the press of a touch screen. These kids are growing up with parents the majority of which simply give them an iPad at age 3 and shove them in a corner to play on it unsupervised. They watch these insane videos on Youtube of eg. "Spiderman and Else acting out this family scene", most of which are stealth operations by pedophiles.

What is going to happen to these future generations? I'm worried that they will be unfathomably stupid, that they will all develop some kind of pseudo-autism, and that they will communicate only in buzzwords and memes rather than fully developed logical sentences. Are we witnessing the stupification of humanity in real time? Our own devolution at the hands of technology?