Is this not a bias towards the status quo, conflating two entirely distinct problems?
We have problem A: receiving timely updates for life threatening events has not been implemented, or poorly.
Then we have problem B: social media companies have monetised engagement, without any guardrails to avoid detrimental effects, and continue to push to maximise this.
Just because the status quo involves a high speed, low latency, flood of unverified information via social media, which tangentially solves problem A in cherry-picked examples, does not mean it has to always be the case. This same proposed solution is also rife for abuse, in the same way a legitimate early warning can be sent out it can just as easily be used to spread hoax events.
Would it not make more sense to actually solve problem A, e.g. get the police to pull their finger out and use the emergency broadcast service available in just about every phone on the planet, and treat problem B as its own distinct issue? By conflating the two I don't see how we will ever solve either problem in any effective manner. By doing so we're essentially agreeing to a world where our best case scenario is the narrow intersection of A & B, while the rest of the time we're left with the full outer join of the two problems - bad access to verified emergency updates and a flood of engagement-bait crap on social media.
To be clear, I do not agree with how this legislation is being put forward nor with how it is proposed to be controlled. This is layman's legislation at its worst for a highly technical subject, and even in a more charitable light I struggle to see it as anything but a distraction and power grab rolled into one, with little likelihood of solving the problem at hand.