That’s less sinister than you might think. New legislation is more common for new industries.
Consider the internet began as the Arpanet is just 50 years ago. For much of that time the idea that the average person would be online from their own home would have seemed like crazy science fiction.
The thing is, the legislation is tweaked to the benefit of the giants, not against them. At least in general.
Not even federal government with their delusions of absolute control can do anything. (Say, FISA insanity.)
Net neutrality was a contest between two big corps. Patent battles ruled to support American business despite clear violations? (Qualcomm et al.)
The used to be laws considering encryption to be munitions. Silly attempt to sabotage it AKA Clipper. Yet somehow AI systems to discriminate explicitly sold to opposing regimes are not despite being much more applicable.
On the other hand, there is Comcast and Time Warner.
I think the public benifits from that to some degree. A search engine index is inherently a derivative work and without updated legislation could easily qualify as copyright infringement.
I am not saying is fair, but other industries which get away with actually killing people (ex: fine particle pollution from coal power plants). So, bias is somewhat expected from how our system works, it’s just not all bad.
Consider the internet began as the Arpanet is just 50 years ago. For much of that time the idea that the average person would be online from their own home would have seemed like crazy science fiction.