Earlier quoted context omitted.
I doubt it. I think these laws were made to herd users towards big tech's established platforms that are 'policed' by community guidelines deemed 'appropriate' and where the content is never more than a takedown request away. Welcome to the new internet. (and it's funny how everyone's yelling 'fascist' at whatever happens in the US instead)
Right, it is called Regulatory Capture, because big actors have the means to comply.
The UK government has a long history of meddling in media coverage to achieve certain aims. Up until Covid, legacy media still had control over the narrative and the internet was still considered 'fringe,' so governments could still pull the tried-and-true levers at 1-3 of the big media institutions to shape opinion.
Post-covid, everyone became internet nerds and legacy media in english-speaking countries fully lost control of the narrative.
This regulation is intended to re-centralize online media and bring back those narrative control levers by creating an extremely broad surface area of attack on any individual 'creator' who steps out of line.