Theres an idea I can get behind

Mitigation of harm really is a different issue.

Lemmy is literally my only social media.

Banning billionaires from owning social media, well, that's a given, obviously. But we maybe should ban Dipshit Money People™ from using social media, too. Why are people even following them is what I'll never understand.

Stage 3, government setting up their own fediverse suite so the platform actually follows local laws.

As if billionaires are the only greedy sociopaths in society. Remember they have thousands of "ordinary" people working for them, willingly and knowingly deciding to aid them in making the world a worse place. Removing the billionaire doesn't guarantee that these people are removed.

Or we do neither of those. Billionaires can own social media all they want, idc as long as I don't have to use it.

Of course, "banning teenagers from using social media" (like most other Internet regulations) makes sure that only billionaire-owned social media will be able to comply with those regulations and survive. :/