Yeah, the social media caters to peoples laziness (hence "connect to all the people you know easier"). But this connection is very shallow and as you said if you're the only one who is trying to maintain a connection apart from consuming "social broadcasts", well, then the relationship is destined to drift apart.
I guess it's a matter of personal preference, I rather have 3 good connections then 10 (not to mention 100, which is ridiculous) shallow ones and when we randomly see each other, there's no "guilt" looming around the meeting.
IMHO this coincides with two recent HN posts about accepting mediocrity [1] and stopping to eternally seek happiness [2].
[1] https://news.ycombinator.com/item?id=12335367
[2] https://news.ycombinator.com/item?id=12345608