Genuinely curious, how are you planning to handle the future in which your kids go to college and move out of your house? Do you feel like they will be adequately prepared to deal with the world that has internet, Netflix, smartphones, etc.? To me, this situation reminds of all those sheltered kids with overprotective parents, who went off the rails once they got to college, because they were not prepared to handle well all those new options they were "protected" from by their parents.
Right now is the time for us to teach them self-control and self-restraint, and we do that in little ways that get bigger over time. As all virtues, if you sharpen it against one thing, it'll be sharper for the next thing. Those devices will probably be one of those ways they can practice as they get old enough, but with supervision of course.
The idea is, if you give a kid a solid foundation for a happy life by the time they're a young adult, so that they have a formula and a recipe for a life that they feel completely satisfied with, they won't feel unfulfilled and like life is missing something when they become adults, which is the biggest motivator for people adopting bad habits, especially the bad habits of their peers. So that's my job. Give them a good, full life now, and teach them how to navigate life while making it good and full in wholesome and rewarding ways. Then trust them to make these decisions as adults. And guide them through it the whole time. My job won't end when they're 18 or 81. I'm always their father and role model and guide, til the day I die.