Maybe platforms shouldn't be allowed to grow too large to manage themselves. Maybe, if strong self-regulation were a requirement, Meta and other companies wouldn't be market behemoths throwing their weight around in lobbying money to guarantee themselves monopolies while avoiding as much real scrutiny as possible.
Meta is enormous because it's useful. It's mostly useful now because of network effects. If it has no other use, Bluesky proves you can start a social media company in the time of Meta and have it be successful, given its slanty take on politics.