I think globalization is the cause for depression and anxiety, because we are now competing with 8 billion people and not just "in our local circle". Technology is just an enabler, a window into this global world. If you drop that, I won't doubt that you immediately feel better, but I also think, that you just diminished your chances on the global rat race for the top (eg. FAANGM) jobs. Also: It's a "winner takes it all" (global) world and the world is full of (super positive) surviver ship biased stories, which do not match the reality of most people.
Technology seeks to make individuals happy, but in doing so they're consumed by screens and feeds and become physically isolated from other people...