The thing with this suggestion is that ATM Instagram is trying to fix how people are getting addicted to the Instagram popularity contest and instant feedback from the likes.
Recently said that is testing the possibility to hide the like count.
This suggestion IMO is another kind of feature for that popularity contest to be on the Famous side of the app.
Related to this; is not that the world is that bad (even tho it really is in bad shape), the thing is that the massive hyper-load of information is only growing and know we instantly know more about the shit that is happening worldwide when decades ago it would take even days for you to know about the war on the other side of the globe.
The issue with social media and mental health is that the topic is just being researched.
Millennials and Z's are the consumers in which that technology is being tested and we don't really know all the effects and damages that this new thing is causing on people. We sure know that it is pretty addictive and causes some damages to people who use social media mostly passive and binge on it.
Another damage that Social Media does is that now most peoples attention span is quite short, really short actually, and it doesn't help for the workflow. Add the depression(FOMO?) caused from the "comparison is the thief of joy" produced by Social Media and you have a really bad mix that will make you fill like shit on the regular basis.
And if you want to dig even deeper, the book "John Dee and the Empire of Angels: Enochian Magick and the Occult Roots of the Modern World" takes this topic even further.
Networking is one of the main reasons when going to college.
While education, the courses and knowledge is really really, really important. Networking is just as important as that.
Your social skills really matter in your life after college and it might help you paying your student debt.