Google is already bad enough at government collusion, divulging data, as are other infrastructure providers.

Best-case is gutting Alphabet and breaking it up to the effect of decentralization of its pieces.

I think if anything regulating the current instruments would just harden their social/political position which furthers their interests more than anything.

Deregulation is the solution here- get rid of DMCA and all the other laws that are used to bankrupt any competitor to YouTube, so that instead of a single video hosting site, we have tens, hundreds or thousands.

The dream of the early web was that everything would be resistant to censorship and centralized control because it was a true network of many independent hosts, globally distributed, independent from the whims of any government. Then we let a few billionaire copyright holders and authoritarians who want to control what is published and seen gradually strangle the open web and replace it with a handful of corporate sites that can be controlled.

But they are in private hands, aren't they ? Welcome to capitalism my friend. And don't forget to vote on the next election.