> "Apple and Google are WELL past due for regulation in this space."

There is major regulation in place already. EU's Digital Markets Act forces these OS gatekeepers to allow alternative app stores and external payment methods. It also prevents Apple from playing anti-competitive games with App Store rules, like banning hyperlinks within apps that could be used to allow the user to make a payment elsewhere.

The current US government won't do anything to follow suit, but hopefully a future one might.