I'm really torn on this. On the one hand I agree with you 100%, whilst on the other I have little faith that our government will implement in a non-damaging way. However, I'd almost be willing to trade some amount of civil-liberty in order to protect us from the rot of social media. If I could ban everyone from "harmful social media" I would, I just understand that's impossible to define and implement without massive unintended externalities.
I'm not naive to how much of a slippery slope that is, and I don't think the government is pursuing this in good faith. Nonetheless, here we are.