There’s so much that falls out of the social media definition. And regardless, kids are not stupid… VPNs, proxies, etc are easy to circumvent with.
Who cares if many can get around it, if the majority can't or won't, then it kills the network effects.
This legislation is very much giving more power to the government over what its citizens cannot do. The real impetus is control by the powers that be. The ideal citizen for an authoritarian would be fully controllable via digital means. A digital id that is networked with services is a wet dream for authoritarians.
What does this have to do with limiting Zuck's net worth? Because less kids will see less ads? How much will this reduce his net worth? If we took licenses from kids and had them wait until 18, would you be claiming this is to prevent Musk from gaining more wealth?
then you're going to see president Hegseth using those laws to ban video games and pornography.