You know, you could just offer additions to the list of carveouts, or give your alternative take, instead of whatever this comment is.

It means the principles that constrain how governments engage with society (e.g. free speech in the public square) should also constrain how these new government-sized institutions engage with society. We've got to the point where so much of governance is pushed off to the private sector that these entities should be bound by the same rules. E.g. private companies shouldn't be able to do widespread content scanning of private data that would be illegal for the government to do.