Facebook, in my eyes, turns people into cherished idols.
Now an idol is symbolic, so cherishing an idol is just no room for true communication and compassion.
However seeing those "idols" as humans, we get mixed with feelings, whether this is all real or not. Looking at all the people getting so much attention, yes, it can create depression.
To cope with this is the understanding that Facebook creates an "Idol" effect.
Another way I used to cope is to unfollow those who get tons of likes and comments. Those who tended to show off their achievements mostly got unfollowed.

I feel better when I use the social media for beneficial or personally entertaining purposes, although sometimes I do press the like button on specific people's photos who have at least a small place in my heart.

I get where you're coming from referring to the "Thanks!", "Hug" and friend list. But it's different, since typical and popular social media sites are about idolizing and competing for attention, competing for positiveness and productivity.
This forum however, is a non-competitive place. It's a balanced place of positiveness and negativeness, creating the vital support for all of us.