Better action would be reforms in contract law to limit binding Arbitration, make ToS unenforceable if they do not have at least SOME provisions in favor of the users (i.e stop allowing unconscionable contracts as Terms of Service), and stronger enforcement of Truth in Advertisement
For ToS, one thing that should absolutely be require for a ToS to be enforceable is a mandate that Vendors are required to provide exact justification for them terminating the agreement (i.e banning you). They should have to clearly define what EXACT terms you violate, and WHEN exactly you violated them. There should should be a mandated review process
For Truth in Advertisement, many of these companies and services use Bait and Switch tactics all the time, advertising their platforms as "Free Speech" or "welcome to all person" only to then clearly and objectively favor one political convention
One final thing I would prefer to see over Anti-Trust is some kine of provision that kicks in if the platform accepts "official Government Messaging" i.e if Twitter wants to allow an official government account on their platform then their should be additional requirements as that now does become an equality under the law concern if people are blocked for official communications.
If they do not want to have those additional strings on their platform then they can simply refuse in the Terms to allow for any Official Government Communication