The current state of affairs is that Youtube and Instagram have brought back fascism and the measles, so if the complaint here is "it's impossible to moderate algorithmic content at scale and so the platforms would become incredibly risk averse," I think I'd take that alternative. I also don't think effectively forcing a breakup of the current online media monopolies is a bad thing either - if you can't actually mitigate the damage of your platform because you're too big, then maybe you shouldn't be that big.