It is a Big Tech consolidation. If the Microsoft, Blizzard and Bethesda isn't an example of consolidation (Which is clearly is) with also Amazon's acquisition of One Medical, then nothing is.
The FTC probably knows it is overdue to break up the Big Tech takeovers, but needs more evidence of this consolidation and behaviour to outright prevent more of this and eventually break them all up.
A large part of it is the political convenience of corporatism. It's easier to "regulate" 1 massive company - hell, they'll do it for you too so you help them guarantee they'll be the only game in town.
It's a lot harder to regulate 1000s or multiples of 1000s of smaller businesses.
Regulation also includes targeted political censorship in this case.
The FTC probably knows it is overdue to break up the Big Tech takeovers, but needs more evidence of this consolidation and behaviour to outright prevent more of this and eventually break them all up.