Earlier quoted context omitted.
Honestly I'd be more worried about nation states having access to the information held on Facebook and Google than I would private corporations.
That's why we need universities and government agencies to work on federated protocols, just like they did with email in the old days.
The issue here isn't federated protocols (though that is something we could benefit from in other domains) but rather the dependance on a centralised archives in the cloud. Most people simply don't care or even aren't aware of self hosting solutions. And those that are aware often choose cloud solutions because it's cheaper and/or less hassle than self-hosting. Federated protocols doesn't fix this (just look at how hard it is to set up a mail server compared to running Google Mail).
Plus in the case of Facebook you have network effects where a social network is only as good as the size of the member base.