As always, Tom Fishburne nails it with the above cartoon. There is also a wonderful quote in his post attributed to Kathy Sierra.
“It does not matter how awesome your product is or your presentation or your post. Your awesome thing matters ONLY to the extent that it serves the user’s ability to be a little more awesome.”
Social media can never help if the organization (and brand) is inherently anti-social. Being anti-social takes many forms. For example, the organization imposes restriction on 'free speech' or customer service sucks( and is rude) or the product/service is bad. Simply put, social media is not a substitute if the brand and organization suck in the real world. It is an amplifier, an enabler.
Finally, brands and their agencies have to work towards making the customer more 'awesome'. And that is a lot of hard work.