The lack of trust in established institutions didn't really start with social media. It started with the Enlightenment. I've spent a lot of time thinking about this lately. We've been on a slippery slope for centuries now, and while we certainly know more about our place in the real universe, are we actually better off for this knowledge?
I used to think so, but now I kind of envy my religious friends. Their beliefs are stupid, and yet marching off to a pointless death, sure in the knowledge that your life mattered, seems more attractive to me than marching off to a pointless death, sure in the knowledge that the entire planet where you lived and died was of no consequence to the universe.
I've just found it impossible to put the genie back in the bottle. I think society will generally also find this to be true. Our tried and true core institutions are rubble now, and will probably remain that way. This includes such basic ideas as knowing whether you are a boy or a girl. Every last thing we used to take for granted has been called into question, and there seems to be no end of it.
It probably does mean the end of the world as we know it. Western civilization seems likely to implode soon.