Big Tech paying/obeying Regulations is their version of Certifications. It costs them a bit of money but it also appears to the customers that they're "doing the right thing" (akin to buying integrity?). Unfortunately, while the ideals may be correct behind regulation, I don't think the results match the intent. Humans are too good at gaming things.

Also, the "regulators drawn from their ranks" phrase in this article is quite apt. We tend to think of companies and governments as distinct, exclusive entities when in fact they movement of people between them is fluid. I see that all the time even from my neck of the woods.