Hang on, Hang on. Let's not get too carried away here. The big corps are all scared after what has/is happening to facebook, and this is an attempt at trying to "go down the unsteady river together" with the authorities. Now, in an ideal world, where governments are ideal, then this is a good thing for the population, as the government theoretically represents the people. However, the government is run by people and…
The abuses already happen and they will get worse, so what abuses of regulation you have in mind that would be worse than completely unregulated use?
> However, the government is run by people and is not ideal.
It is still much much more so than corporations are (run by people, that is), and people can change their degree of influence. As you say at least the government theoretically represents the people (that's the whole justification for it), while that's not the case for corporations, even in theory.