It is not given that regulation leads to worse outcomes. For example, healthcare is regulated in most Western European countries, but we have better healthcare at lower cost (emphasizing the latter part, because people often come in with some story that the US is subsidizing Europe).

Besides that we have a lot more protection against big tech through better privacy laws. Enforcement has not been perfect yet, but we see a lot of day-to-day improvements (like in Europe you can use Facebook without ad tracking, currently it's paid, but the EU found that not to be legal).

I think one thing to keep in mind is that a lot of tech companies make a lot of money by externalizing cost and exploiting societies. Like Uber took the market by ignoring local labor laws. Meal delivery companies replaced regular wage (with benefits) workers by contract workers (luckily found to be illegal here now). Closed AI companies are taking all the creative work by millions of people to make their money-generating models without giving anything back. Amazon operated at cut-throat margins to destroy local (mom and pop) shops and raised prices once pretty much all competition was destroyed. Klarna earns money by preying on people who do not have the money to buy something, but are algorithmically tricked into buying stuff they probably don't need.

A subset of tech is just transferring monetary/cultural/etc. wealth from society to a small group of billionaires and it's ripping apart society.