I would argue that the governments have also gotten out of hand in terms of the power they wield. As a result, I think that we should be careful to ensure that any new developments are clearly empowering the individual, and not just claiming to benefit them.
Im for regulatory options that put more power in the hands of users so that they can solve their problems. I haven't decided what this means for age verification and algorithms, but there are some interesting options in this thread.