I think this is a sea change - there will never again be this dominant of a social network imho. From now on the space will be fractured into niches (AngelList, LinkedIn, NextDoor, etc...).
I happened to "delete" my profile a week before this shit storm blew up and thankfully someone pointed out the Deactivate vs. Delete dark pattern and I quickly fixed that situation.
It's a weird world when the Smut Peddlers have some sound advice on living.
[0] - I didn't keep a list, but I recall one called "Wittitudes" or something along those lines simply lacked the "Hide" option, and all attempts at blocking it failed.
But social media within a given sphere is a winner take all game. Then the winner in the biggest sphere will try and buy all adjacent social media companies (see Facebook, Instagram, and WhatsApp). The only hope I see is either 1) somebody has a large enough ego to think they can take on the dominant player (Snapchat/Evan Spiegel), or 2) the government gets some sense and decides that it's not a good idea to let the dominant player buy adjacent companies. So maybe Snapchat wins eventually as their demographic grows older. But then we're in the same position we're in now, just with a different company on top.
At least, that's how things seem like they will play out to me.