That it's become super commercialized over the years is not great.
The way most corporate-owned social media are relentlessly promoting "engagement", meaning they consider endless negative interaction is a plus, not a minus, is not great.
That it is a variety of very addictive drugs for people who-- although as is often the case with addictions, it's just as much about the environment they live in as the "drug" itself, I don't think internet addiction would be as much of a thing if the outlook of the future wasn't so dire.
That it allows people to any media or interest group they care to seek out is certainly a double-edged sword, but I think better than very centralized media control.
The internet has allowed a ton of collaboration and ability to share art and information, but all that art and information has been used to create the technology of LLMs-- and modern corporate society is really not set up to deal with LLMs in the long term, since it's sort-of-okayish at a lot of the low level work that is being done, and creating a society based around the concept of "workers" when you remove most possible work doesn't really... work. I guess we'll see what happens there, it's yet another thing that can't continue in the direction it is going forever without society breaking.
AI and crypto are also huge electricity sinks, effectively creating a ton of C02 because most electricity isn't sustainable-- contributing, of course, to another "breaking the world" direction.
At the same time, it's probably a contributing factor to lessening the connections between people on a local level, which is not ideal-- but at the same time, I think it's allowed a lot more empathy and connection and awareness between people outside of things that are usually used to divide them.
I want to believe people will use it to work together and organize to change the world, enough to outweigh it's downsides.
So, I optimistically hope the internet overall proves itself as a force of change for the better, but I think the ship's kinda out on it's effects-- I'm sure historians will have opinions in a few hundred years, if anyone's left to do history.