Cope, specifically, because we don't want to accept the fact that this kind of stuff is addictive on its own, that we are our own worst enemy; bot armies, evil corpos, and engagement algorithms don't help but they're not required. (That is, between your two theories, I think both contribute but it's more so the latter.)
I'm a pretty easily distracted person. I don't use social media at all. Yet I've been "addicted" on some level to this site, to news sites, to browsing Wikipedia, to traditional forums. So have plenty of others.
People don't want to face the fact that humans just really like having a giant source of stuff to entertain ourselves with, and are easily drawn into online arguments. Getting rid of the corporations and such would probably make a better Internet, sure, but it's not going to cure everyone's addiction.
In principle they're comparable. In the real world, no high school kids are going to harm themselves over an argument about Mint versus Ubuntu on a 100,000 subscriber ATmosphere site. It's like comparing the Dominican cigar shop selling hand rolled cigars with Philip Morris. Unedifying.