It really bums me out that I fully believe this is it.

Megacorps seize the demand for regulation (to regulate them) in order to write regulation that purportedly does that, but in practice mostly closes the doors behind them and cementing their stranglehold on society. For Microsoft, Apple, and Google it's a small thing to agree to age verification if that means all the potential competitors will have to do so too.

The cheapest time to shut down a competitor is before they get to market.