Facebook didn't bat an eye before blocking the pages of food banks and emergency service providers in the middle of a pandemic for an entire county, all in service of avoiding a drop in their advertising revenue [1]. That should tell you a lot.
You might not like the proposed laws but Facebook's reckless conduct is indefensible.
If you compare this to Facebook's history in Myanmar, you will find that they have no issue with subsidising the spread of their platform while it is being used to incite a literal genocide [2]. But they draw the line and take swift action when their profits are endangered.
[1] https://www.businessinsider.com/facebook-australia-news-ban-... [2] https://www.wired.com/story/how-facebooks-rise-fueled-chaos-...