I reckon the difficulty in the balancing act, and frankly don't have an answer for it.
And I agree that regulation that can help parent do parenting would be a good start, so many services have such poor parental control, or it's behind an extra fee. Or in general, parents are not given support in both appropriate time off, financial, help, and education to be better parents.
That said, there are also so many bad parents, child without one, and so on, as well as external influences where parents can't reasonably be present for 24h/7, that I think there is also room for measures that don't rely on parents. And again, I reckon some of the ideas on what those could be conflict with other ideals, and I have no solution for that, but I think we won't find a solution by simply denying what the other cares about, which I often see happening. Either one side claims privacy don't matter as much as those that care about do, or they claim that children and their safety/health doesn't matter as much as those that care about it do. And I see both often pushing the problem away, like, parents should just not let kids to these things, or privacy conscious folks just shouldn't expect privacy on major platform and not use them.