With the government, you have legal recourses for anything. You can eventually get to someone to be able to recover something. You can even take them to court.
With the unregulated private tyrannies that the US tech corporations have become, you have no recourse if some algorithm or someone just nukes your account in some major provider. Your history, your business contacts, even your infra may be gone in seconds.
We still treat the Internet as if its mid-2000s and its still a mostly hobbyist thing with some big business doing their thing elsewhere while the plebs go about their lives in the fringes of some user-run websites and forums. Losing nothing was a problem then. But now everyone's lives, businesses & livelihoods, professional histories are hooked up to the Internet. Its no longer a hobbyist's ground.
Its amazing how corporations that could kill your business within a second have gone unregulated this long. If some company holds the livelihoods of millions of people in its hands, its not a mere business - its infrastructure.