Yes, people think they're socializing because it's "social media" and the little icons represent "friends" who "like" them, but there's no there there. It's like trying to live on zero-calorie foods; after a while you're starving even though your belly is always full.
Not just Facebook, but all of Social Media, Online Gaming, Twitter/X, messaging apps, and Internet forums (even HN) are all zero-calorie online substitutes for real life. There's a reason "chronically online" and "touch grass" are sayings.
EDIT: I'll also add that for myself, a lot of In Real Life events I used to host, like poker night and movie night, are slowly petering out and going away because people move away, or they aren't interested in coming, or they come but spend the whole time scrolling on their Instagram fantasy world. Yes, you can institute a no-phones rule but that just decreases attendance even more. People are more into their fantasy worlds than they are their actual (real life) friends.