No. Social media is a form of personalized communication system. Depending on your age and on what you do, social media is a way to portray yourself to others. If you ask a healthcare professional why they don’t have social media, I bet their answer is pretty justified. If you ask a teenager why he doesn’t have social media, I think there is more peer pressure for him to have it.
I think it depends on the person, but having social media is in no form a replacement for status. I dare say that the amount of money you make is a bigger determinant of how much attention people pay to you.