For context there was a public outcry years ago in Australia about the algorithms some social media companies were using, particularly those that were funnelling children into certain areas that many adults felt was not in the best interests of any child. Social media companies were asked to cooperate and do something, but declined. There was also an issue of teens here uploading themselves doing stupid things for cred.
Now there is a law which means consequences ... and pretty much social media here is well primed to remove any algorithms or product behaviour that funnel children into less desirable areas or motivate them to do stupid (often illegal) things.
Social media should aim to be used for positive things, and no doubt those kids still using it do so in areas their parents permit.