If we could regulate ISPs as utilities first, that would be great.
Doesn't mean the idea itself is wrong, even if the author is a hypocrite. I don't care really about American politics, but Google and Facebook are dangerously big. I believe Europe should have some protectionism mechanism like China or some other countries to make sure social networks and search engines emerge from Europe. But where do you draw the line between that and censorship? The internet has given a new meaning to national borders or the lack of.
I find it ironic that while he wants Facebook and Google regulated like utilities, he also supports getting rid of Net Neutrality.
I am guessing that part of the regulation would be requiring that Google and Facebook promote Christianity. If you think I'm wrong, take a look at this talk where Bannon lays out his basic worldview