While it is undeniable that misinformation is detrimental to our society, the issue is not with social media outrage but with the advertising models employed by social media outlets.
Currently, websites are able to earn revenue for every visitor they get to their site, regardless of the veracity of the information displayed on that site. If the responsibility was on advertisers to ensure that only sites with verifiable information were able to be monetised, then social media platforms would not be awash with misinformation.
Similarly, social media platforms could have the responsibility of ensuring misinformation is kept off their platforms.
It is possible to remove the misinformation from social media outrage, leaving only the benefits of the process without any of the drawbacks. Therefore, social media outrage itself is not detrimental to society.