Of course it doesn’t generate extra time, there’s still 24 hours a day. What is does is adjust for the earths orbit and tilt, which means that seasonally we can have daylight during the regular working hours. The nice consequence is that there is more daylight hours in the evening. You must have a very generous employer who lets you change your working hours based on the seasons when you want to do evenings activities!
It’s a legitimate societal issue. The mental health and social damage it’s doing to children should not be an accepted as a social media functionality. I don’t know what the answer is, but surely there is a way to achieve both privacy for adult users and age identification for children.