Not necessarily. The ultimate aim of each business is to crush the competition and become a monopoly. If they succeed, and we do have some de facto monopolies now, they can do whatever they want and users/customers have little or no choice. Regulations limiting the power of companies are designed do counteract that.
It doesn't matter if Google crushes the competition in search. You do not actually have to use their search engine, that's part of the freedom of the Internet. Further, you're not entitled to their search engine, that's also a critical aspect of actually having the freedom to use the Internet as you see fit.
They can't do whatever they want. So long as the Internet is free from overbearing government restrictions and the ISPs aren't segmenting it (locking users into restricted sandboxes), you can go wherever you want without using Google search, or shopping at Amazon, or using Windows, or using Chrome, or using Facebook, or shopping on eBay, or paying with PayPal.
The only real limiting premise as it pertains to the Internet, are the ISPs and the backbones.
So long as you can get on a free Internet, engineers can perpetually build their own new products at will, crafting new tech universes that didn't exist before. They have been doing that non-stop in every category for the last two plus decades since the Web took off.
Don't like Chrome because it managed to acquire 99% of the market? Fine, spin up your own clone and put it out there. Or use Firefox or Edge a dozen other lesser used competitors.
Don't like Go or C# or Java? Fine, use one of 37 other languages.
Don't like Google search? Fine, use Bing or DuckDuckGo or a dozen other less well known search engines. Build a new one maybe, nobody is stopping you, maybe it's time for a new search paradigm.
Don't like AWS? Fine, use Hetzner, or Digital Ocean, or a dedicated box provider, or Vultr, or Linode or Google Cloud, or Azure, or build your own new competitor.
There are vastly more options today, in essentially every way, than there were in 1995 or 2005.
The free Internet has worked extraordinarily well. It has never stopped producing alternatives, and alternatives have never stopped existing. The only thing that can crush it is government regulation, specifically if they fuck that up.
I don't disagree with you. That is why I said positively correlated, rather than perfectly. My comment intended to concur with the parent comment: "the two parties here have fairly well aligned goals -- less freedom on the Internet. The senators want to show that they're doing something, and Facebook welcomes regulation in order to suffocate would-be competitors with it."
We most likely will not see any trust-busting as you're describing here. We'll more likely just see more side-effect legislation like the net neutrality repeal or FOSTA/SESTA that will just consolidate power for a few parties and the government at the expense of small businesses.
