Except you know, all the incentives for keeping the current system in place. Financial repression still exists. Same with the local government funding model. Also the government's intervention was arguably what led to the crisis, by abruptly disrupting real estate companies' cashflow. The problem needed to be solved, but in typical CCP fashion, rash decisions made the situation worse. Same as with the one child policy.

Finally, what makes you think meta "haven't tried to fix the issues"? They're trying very hard with age verification :^)