He needs to read more sociology. That's it. That's the review.
Equally seriously, this book fits into the old pamphlet tradition (a bit longer, probably). Some arguments are more persuasive than others (some are a bit weak). But, to me, the most interesting part is that he is a Silicon Valley guy. This insider perspective on the business model (the BUMMER model, to use his acronym) is valuable.
Ultimately, though, since the problem is structural, the solution cannot be individual (although the benefits of leaving social media are obvious). Lanier himself acknowledges that at the end. But making the structural argument would require a different kind of book, so, I'll give him that: his audience are people who are mostly likely on the fence on the quitting v. staying so, this is who he is trying to convince.
Note: I got this right after watching The Social Dilemma. I had already quit FB, but I'm still on Twitter, and well, here.