I get your point but I don't agree.
I mean, politicians back then were actually right in assuming that danger looms on the Internet. They just were completely wrong about what was the danger. Everyone and their dog thought that the danger was porn, violent video games (Columbine and Erfurt certainly didn't help there), gore videos (anyone 'member RottenCom), shocker sites (RIP Goatse), more porn, oh and did I say they were afraid of boobs? Or even of cars "shaking" when you picked up a sex worker in GTA and parked in a bush?
What they all missed though was the propaganda, the nutjobs, the ability of all the village idiots of the entire world that were left to solitude by society to now organize, the drive of monetization. That's how we got 4chan which began decent (Project Chanology!) but eventually led to GamerGate, 8chan and a bunch of far-right terrorists; social media itself fueled lynch mobs, enabled enemy states to distribute propaganda at a scale never before seen in the history of humanity and may or may not have played a pivotal role in many a regime change (early Twitter, that was a time...); and now we got EA and a whole bunch of free to play mobile games shoving microtransactions down our children's throats. Tetris of all things just keeps shoving gambling ads in your face after each level. The kids we're not gonna lose to far-right propaganda, we're gonna lose to fucking casinos.
We should have brought down the hammer hard on all of that crap instead of wasting our energy on trying to prevent teenagers from having a good old fashioned wank.