Earlier quoted context omitted.
Perhaps so. But they're too late the damage has been done. Unfortunately, they should have acted 30+ years ago. The need to regulate back then was just as obvious as it is now.
What should they have done differently in the 90s, and what would the regulations have looked like?
Microsoft would not have been able integrate Internet Explorer into Windows nor even the IP stack as these are actually applications. The whole world of security would have been different and more manageable not to mention much improved competition from other vendors.