My take on Facebook partly is that for most people, it is not something that improves their life. For some that's because it's impossible to take their eyes off the political portion of it. For others it creates an impression that others are living their best life--and they're not. For many they feel forced into being "Facebook friends" with relatives that they actually don't have anything in common with, and it causes familial drama when sometimes it would be better to just not engage.
On top of that, everyone on FB or Instagram asks for chronological posting--but they can't allow that because it reduces engagement. If you know that you're caught up, then you'll put down the app for a few hours at least. If you never know whether you're going to be missing something, people get into the idea that they have to refresh it constantly lest they miss something. Facebook tries to claim that their algorithm is showing them the best content, but it's all about not letting people know whether they're up to date or not, so they get addicted to it.
That's before you get into anything about promoting/hiding specific content, which is a whole different issue.
If you can keep your sanity and emotional well-being and be on Facebook, then good for you. It makes me angry to get on it, so I don't. The only thing I use it for is Messenger, and I'm thinking about deleting it entirely.