I think that it is necessary a radical political change in the US, akin to a revolution, to be able to pass and enforce meaningful regulation against big tech companies. It's the same as going against the military-industrial complex or big finance. They integrated themselves to this power structure that guarantees their interests come first not only in internal policy, but also in foreign policy. Big tech is a limb of the US empire.
Did you see how much flak Lina Khan got for pushing in that direction?
This issue was on the ballot and will be again.