Facebook wants regulation for itself to kick the ladder down for future competitors, the current "whistleblowers" want it for FB because of personal idelogical leanings toward modern identity politics, the legacy media corporations want regulation applied to FB hoping that it will somehow save the former's outdated business model and the Biden administration wants it in order to manufacture consent in the face of falling popularity ratings and to keep those pesky allegations of election fraud down (except for their own allegations against the opponent).