A second benefit of giving up the term "social media" would be to get rid of outdated analogies between the architecture of the Internet and the nature of the activities that take place on it. We've already seen John Palfrey on that above. Here is a paragraph by Lance Bennett back in 2003:
"The implication here is not that the distributed (multi-hub, or polycentric) structure of the Internet somehow causes contemporary activists to organize in remarkably non-hierarchical, broadly distributed, and flexible networks. Digital media applications can take on a variety of forms, from closed and hierarchical, to open and broadly distributed. Preferences for the latter pattern reflect the social, personal, and political contexts in which many global activists define their mutual relationships".
That is, anti-hierarchical activists find an accommodating home on the Internet because its network structure maps to their preferred way of organizing themselves.
The shift to Web 2.0 platforms has changed the logical structure of many applications, including the YouTube/Twitter/Facebook trinity, to a centralized (single-hub) structure. We continue to speak of networks, but the structure of the human network is no longer mirrored in the structure of the computer communication network. Networks of friends exist only in the cloud of Facebook's servers and SMS messaging has never been carried out on an Internet-style network. There is still much talk of mapping hyperlinks, which form one of the key circulatory systems of the Internet, but the associations of links have been carried over to Facebook friends and to Twitter followers, even though these are beasts of a different sort, living as they do on a single company's private servers.
The commercial Web 2.0 platforms that dominate web traffic are quite different from the archetypal open source software communities (in which copies of the source exist in many places) and even from Wikipedia. They cannot be forked, and we do not get to see the source code for the algorithms that drive them. Using "Wealth of Networks" style logic to discuss how they operate is tempting, but is often inappropriate.
Forswearing "new and social media" would force us to stop making outdated Web 1.0 analogies and inferences about technological structure leading to social structure, even subconciously, and that would be a good thing. If we make ourselves talk about Facebook in particular, rather than social media in general, then it is clear that issues with their terms of service, privacy policies, real-name policies and so on are not details in the big picture of networked technologies but are central to the potential of Facebook as a tool for effecting political change. Given that there are now more active Facebook users (>>) than there were people on the Internet a decade ago (World Bank Development Indicators) this gives those policies their proper level of importance.
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