A better comparison would be with telephony companies of the old days. We now have the Telecommunications Act [1] that does for telephony what the article is suggesting for social networks.

Quoting from Wikipedia:

> Since communications services exhibit network effects and positive externalities, new entrants would face barriers to entry if they could not interconnect their networks with those of the incumbent carriers. Thus, another key provision of the 1996 Act sets obligations for incumbent carriers and new entrants to interconnect their networks with one another, imposing additional requirements on the incumbents because they might desire to restrict competitive entry by denying such interconnection or by setting terms, conditions, and rates that could undermine the ability of the new entrants to compete.

So either social media companies should be classified as telecommunications companies (imho not far-fetched), or we need something similar to the Telecommunications Act but for social media.

[1] https://en.wikipedia.org/wiki/Telecommunications_Act_of_1996