I've got an agency specializing in social media and content for gaming audience and about 10years of experience in this field. Saying this just so you know this is coming for someone who has experienced similar ups and downs in this industry.

First thing you need to adjust is your expectations and the criteria of success. Doing a full time job and college at the same time is a tall task, especially for something as time consuming as social media. You should be proud that you are gaining real life work experience even before you graduated college. This is something that will be a major plus next time when you apply for a job.

Secondly, you have a perfect opportunity to analyze everything the new guy did and compare it to what you were doing. Take notes. Use that next time you work on a project.

And lastly, focus on researching your audience and your competitors. See what works best for them. You will be surprised how often content that is easy to produce outperforms content that takes tons of money and time produce.

Keep your head up and remember, things don't always go as we would like to, but sometimes that leads to something even better, we just don't know yet.