Depends where you look. But not according to this. Forums or "online communities" are on the rise again.
The Rise of Online Communities - GWI
Social media was at one time the poster child for carving out meaningful social spaces, but it’s now arguably created a more individualistic, less communal space.
Our data shows those who share details of their personal life online through traditional social media has declined by 35% over the past 5 years.
The authentic connections users look for (but don’t always find) on social media are part of the fabric of online communities – a major reason why people are turning to these spaces more and more.