Many newspapers have died out because the more inter networked we get it's more efficient to consolidate. Info flows around gatekeepers as the network gets more and more connected. Yet notice how we have so many news sources divided along social differences. They resist merging with each other.
Those same forces resist consolidation of 6 billion people onto a single network.
This has already happened with China, Russia, Iran, Turkey, Pakistan, North Korea etc where the differences are stark. Many countries are already demanding local data centers. As soon as that happens it's guaranteed some political entity will misuse the data to hold onto power and further pressure builds.
Give it time and few more elections where one side has to loose (we will see many more Obama/Trump/Brexit type event where one group goes viral and beats another) and the pressure on the consolidated network will keep growing from the disappointed parties. This is still early days in the history of a social network.
Niall Ferguson's book The Square and the Tower is full of examples from history of how networks of people grown, merge and break apart. Highly recommended for anyone interested in this stuff.