That's one of the ideas behind why these platforms which facilitate so much societal communication should not be treated as private corporate entities with regards to free speech they should be treated as public utilities
(1) There is a better solution. The problem is that they are monopolies. So bust the monopolies. Require interoperability — a proven solution in other industries. A service needs to be treated as a utility — meaning large amounts of regulation — when it is a natural monopoly, meaning there’s no practical way to avoid a monopoly. That’s not the case here. Don’t use a ton of regulation where a much smaller amount will do.
(2) It doesn’t solve the problem. A social network utility still needs moderation. How would making a social network a utility make the moderation decisions better than what you’re getting now? Complicating things, in the US the first amendment means the government can’t establish laws to limit free speech, so a public utility would have to be a minimally moderated cesspool.
I think consistent standards about it what is and what is not free speech and what is and what isn't protected and what is and what isn't allowed to propagate on a big platforms is something that's good for the culture. so I see making them public utilities that are regulated as creating that overlap between the state definition of free speech and the corporate enforced reality.
