There's a big difference between regulation that affects all players fairly and equally (like safety codes requiring buildings be built to certain specs, requiring insurance, food labeling laws, etc.), and regulation like antitrust which affects only select companies that are successful and meet unpublished post-facto and mostly arbitrary criteria.
Antitrust and competition regulation is built entirely on arbitrary quantitative definitions of competition rather than reasoned and objective qualitative definitions of competition.
There's a big difference between qualitative and quantitative definitions of competition. Anyone is free to compete with Google (qualitative), while Google dominates search with ~90% market share (quantitative). Even if they had 100% market share, they still exist in a qualitatively competitive market. But antitrust and competition regulation isn't concerned with that, and we've heard calls by EU regulators to break up Google based on their market share. Same with Facebook.
Users must own and control their data, using open standards, so that apps can come and go and people aren’t locked into them.
The biggest obstacle to this is browsers. Browsers must implement decent identity and authentication with pluggable encrypted data storage. Without that there simply can’t be a decentralized social network on the web.
Beaker browser is the only active project attempting to move in that direction, even though it might not be the right solution. They deserve the $1 million, not some idiot blockchain bikeshedders.