Fundamentally, products are always gonna get copied. Google tried to do it to Facebook, back when FB was the size that Snap was at the time, how well did that work?
Fundamentally, while competing with a megacorp sucks monkey balls, Snap shot themselves in the foot with their boneheaded product strategy.
They literally didn't invest in their Android app because they wanted to be exclusive. Given that the vast majority of countries are majority Android, this gave FB the space to clone their product and put it in front of hundreds of millions of users who'd never seen the concept before.
Ultimately, while I do agree with most of the articles points (breaking up the internet behemoths would probably be a good idea), I really dislike the Snap analogy, as they could easily have beaten FB to the punch if they'd had an effective growth strategy.