I think social media could lead to worse in-person bullying, but only because you would know more about what is happening in someones life and it could lead to jealousy or any number of things. Though, it could also help mitigate bullying in-person because, as bad as it is, people could cyber bully instead.
In some cases yes, for example many popular people can say something against one minority, for example if someone said being gay is wrong than that one celebrities' opinion is going to et put into the mind of millions of others people head. Having an affect on that minority, social media platforms are also doing a better jobs of stopping hate from anyone and promoting self love and kindness; in the end it can, and will. Although it would not be as effective.
this is a little longer sorry, but hope this helps