It's not so much "regulation vs non-regulation". Yandex is all intertwined with the government, and the Chinese giants have benefitted from a lot of government protection.

It's about political will. Like you say, Concorde, Airbus, or other government-sponsored and national-security-driven projects have succeeded. China and Russia saw their web properties the same way, while Europe has opted to not do that in the consumer web space, so the default is everyone just uses Google and FB.