The element of followers/friends/subscribers and an engagement and/or content monetisation business model dependent on that element might be a useful distinction between what we consider a social media platform and a forum or blog.
This is going to be important as Section 230 and it’s non-U.S. counterparts are re-visited re: a platform’s role in spreading disinformation and other dangerous or illegal content absent a robust moderation system. @Otherbrother is right that we need a more precise definition.