I don't really think so, as long as people have enough sense to take social media with a pinch of salt. Tabloid newspapers did pretty much the same job years ago, but then as now, intelligent people sought out the true news; not the fake.Have free and fair elections come to an end? Consider developments such as big data analytics combined with personalised political ads, psychographics, "fake news" campaigns, hyperreality, post-truth politics, and so forth.
We've just watched the Netflix documentary about the Cambridge Analytica scandal, The Great Hack. While Cambridge Analytica itself is no more, they were only one company, and the company concept is not unique (see e.g. AggregateIQ). In fact, I would think we're likely to see more such companies in the future.
Companies such as Facebook, Google and others sit on treasure-troves of data which they sell to third-parties, and this is just waiting to be exploited by unscrupulous players that try to tilt the next election to the advantage of their clients.
Some people like to think they're immune to influence from commercial and political ads, but the success of clever ad campaigns to sway public opinion is, I think, undisputable.
So, in conclusion, are we doomed?
Easier question: Did anyone else watch the Cambridge Analytica documentary yet? Thoughts?