This is how I see social media. (I realise a lot of HN folk work in this area)
These CEOs brought social media into our world, and I expect them to take resposibility for it. If they are unwilling or unable to take responsibility, then I'm OK for The State to do that for them - like you said with regulations. Currently it looks like they don't want to take resposibility for the destruction they have caused.
Sorry for the rant - but I'm seeing first hand the negative effects of QAnon/Consipracy Theories/Extreme Politics within family members.
I cooked eggs this morning. There is a diversity of wonderful eggs and even some bad eggs. Is the Twitter service a) the eggs, b) the pan, c) the stove, or d) the hen-to-table service of providing a delicious breakfast?
As a society we need to first understand the problem, then decide on what, if anything, we want to do to fix it. Fixes would most likely take the form of some sort of regulation.
E.g. something like where in Canada, some percentage of media has to be from a Canadian source. That law is very contentious in Canada, but you could imagine a similar law for any system that does content recommendation. E.g. some percentage of the content has to be sampled from the total body of content, and not come from the recommender. Something like this might address polarization, but disinformation is a thornier problem.
In any case, it needs to start first with understanding what is going wrong. Things like Mozilla's media bubble study is a good start. From that we need to form policy. There is no role for CEO opinions in all of this.