Since all the social/entertainment media never really added value to society (beyond what was established previously) this is not a loss.
All they ever did was installing an advertising channel into our inborn desire for socializing. And the pathological interaction of social media and individual and group psychology have been discussed at length elsewhere.
Its not the EU's problem if the US wants to spy on the entire world.
Countries shouldn't put up with such BS.
US is all about the free market until Tiktok showed up, which shares data with the government like how meta shares data with the NSA.
I've been part of a few projects where we blackout EU locals. Just not worth the risk.