Scams can exist for only so long, until people figure out what is going on. Most of these social media platforms were built with startup investor money an no real business model, as you wrote, no real value creation, just content and user capitalization.
This is where platforms such as Hive are the way forward. They actually create value for the user. The question is, how long will it take for the idea to catch on and drive mass adoption of the concept. This does not mean, mass adoption of Hive. Starting out early in the "race" does not automatically confer success. It might, but there is no guarantee.