It would be an even better thing if supra-national entities (huge companies) had to deal with multi-national entities. That would level the playing field.
Countries competing for the attention of monopolistic companies will just provoke a tranfer of wealth from the citizens of all countries to those companies (see: tax havens).
It seems like it would be a good thing if you didn’t have these billion-user social networks, operated by foreign entities that are likely to use them to spread propaganda, censorship, election interference, etc.