More startups and more innovation gets created when founders have higher hopes of a positive exit, and in turn, this is good for the world at large.
When a startup becomes FCF positive quickly, and can sustain their growth, they generally don't want to get acquired (eg: Facebook, Snap...) and generally aim for an eventual public IPO. But this is a high bar, which only a small number of companies reach.
The ones that do choose to get acquired, often do so because they are not as optimistic about their own sustainable growth as outsiders might think. If they can't make a reasonable exit via an acquisition, then their equity becomes zero and their years are wasted.
From a founder point of view, acquisitions act as a significant floor of value for the time and effort that the founders and employees are risking. This negative Expected Value risk taking drives innovation and growth for all, significantly curtailing acquisitions makes it severely more negative EV. Worse, the impact of this will not be felt immediately so the new FTC will be able to claim political and populist wins; it will show up in reduced startup creation in the years to come.
[1] Figma feels like it has a reasonable chance of surviving on its own, and become genuinely disruptive to Adobe in the future. But if it dies and goes to zero, then I will feel sad and unhappy that the acquisition was blocked.