I am very sympathetic to your view that these massive companies mustn't be allowed to use their absurd concentration of power to be anti-competitive. But the thing that I've noticed over time with these tech companies is that whilst they are extremely profitable and at points can be extremely powerful, their power is unstable. When you look at other markets the contrast is stark, AT&T and the break up of Bell system - they were a monopoly for decades and acted terribly and were broken up by the government and have basically slowly morphed back into their old shape. Compare that to AOL - they were powerful sure, but that exploded pretty quick. Before Facebook it was Myspace, and after Meta something else will come. These industries just don't seem to form a stable equilibrium they continue to get disrupted. And the problem you have is that if the government is going act thoughtfully, they'll act slowly, and if they act slowly they'll almost certainly be too late.
That may be true for large companies, but a lot of smaller ones get crushed in the process, including those that will never be big enough to find a way to work around the law.
Most businesses fail, and it’s usually a matter of when. A part of not picking winners and losers by fiat is also disregarding that most new businesses will fail but a few will succeed and a very very few more will rise to the level of challenging any of the major tech companies, but they will rise and if it’s not your business, it will be somebody else’s.
