I think EU will not ban these platforms but mired them down with never ending stream of lawsuits, and eventually force a withdrawal - similar to how some US companies don't serve EU due to GDPR etc. A proper firewall should create the space for domestic services to re-emerge - and yes, we have a chance that these could be democratic from ground up. Lets hope so.
Elon Musk, Mark Zuckerberg, and Jeff Bezos have been putting their heads so far up into Trump's rear they are probably looking out of his mouth by now. There is absolutely zero chance for actual democratic systems to emerge in a country where the top 1% own 35% of literally everything there is to own, cronies in the government, and apex corporations mended to the will of an 80 year old convicted felon
yes i think it kind of looks that way I am afraid. US literally has an oligarch duly elected and assuming office in a few hours. We are in the era of robber barons, maybe similar to late 19th Century America, where J P Morgan was obviously the only man who mattered, despite the performative democracy.