The research on video games indicates that it tends to enhance certain skills like spatial awareness and reflex time. They're also pretty decent social / competitive outlets.

The research on social media indicates that it lowers attention span and increases anxiety, depression, and anger. And my personal opinion is it's the reason we're seeing crazy things that I can't fathom happening without it like the measles resurgence.

Neither should be used for 5 hours a day but the consequences don't seem comparable to me. The only place they do align is you should probably be exercising more instead.