This is spot-on. In addition to the obvious risks (privacy, security), these devices represent a tremendous opportunity cost. Think of how that life-crushed-into-an-iPad commercial resonated in all the unintended ways.
Opportunity cost is a good term for the problem with addictive tech. Any one of the little distractions it offers up seems harmless, but in aggregate they represent a massive time opportunity cost, and indulging a few without succumbing to the aggregate has proven incredibly difficult for many.