To illustrate the absurdity, imagine if a newspaper had a community section containing blurbs about upcoming local events. Some well-meaning politician comes in and says that the newspaper should pay $10 to every event they feature, because they're benefitting from selling ads on the next page.
The obvious outcome would be for the newspaper to decide that it's just not worth the trouble and remove the community events page. Now everyone is crying and blaming the rich evil newspaper because the events are struggling with less attendance than before.
It turns out that having free links to their stories all over social media really was beneficial to the media, and they were the ones who would be harmed the most by punishing social media companies for allowing it.
I've even seen news organizations' official accounts posting obfuscated links to their stories to get around the ban. Why would they do that, if the core premise that uncompensated links are "stealing" were even remotely close to being true?