I mean, you can use it for a lot of stuff: sharing information, selling products and services, SMM, becoming an influencer, and so on. You can also just use it for personal pleasure/development.
If you mean the commercial side of social media, then SMM is an undeniably strong strategy for a business in 2022. Social media is suitable for raising brand awareness and is a magnificent tool for increasing revenues. 79% of people state that user-generated content on social media significantly influences their purchasing decisions.