Has been opened. I have friends all over the world whom I would never have met were it not for social media. I met my wife in Second Life, and at the time, we lived 3000 miles apart. Humans are connecting creatures, and I think it's too late to reverse the social evolution toward using technology to connect. Even if you were to personally decide to only connect with people you can physically meet, whom would you talk to? Everyone else has their head buried in their smart phones. The very act of attempting to interrupt their attention automatically disqualifies you as someone worthy of socialization. I'm sure Stephen Fry could reasonably expect to be able to strike up a conversation with a stranger on a train. You and I cannot.
A more practical solution is for people to begin to take their privacy seriously and go to a little extra effort to secure it. This has already begun, to a limited extent and with younger people. My kids and their friends no longer use services like facebook to communicate, because they know how easy it is for parents and principals to access the information. We need to choose social media services that strike a different balance on the issues of cost and privacy, even and especially if that involves paying for them directly.