Yep, I mostly agree. Except, defining APIs is pretty much the realm of software engineering more than regulations.
I mean, we don't want to have regulations that essentially say: "all companies selling platforms (god knows how we're going to accurately define what a platform is; let's ignore that for now) must support development against open apis such as HTML 5" and then realize that 5 years later nobody wants to write apps in HTML 5 but the shiny new thing called Flash that Adobe has developed. (My memory fails me; Flash is the hot new thing right? :P)
Anyways, it feels like society has reached a point where regulators need software skills if they're going to tackle societal impact of big tech. We need super smart folks from software _also_ become super smart folks in law and become members of congress. :D Or, maybe we need congress to sign up for #learntocode. Cross-functional skills FTW!
For example, the regulator can mandate that if you have an app that you sell (SaaS or not), you must also provide a way to export the data out in a machine readable, documented format.
Regulators can mandate that your app must have an api to insert compatible data into your app (like embedding). Regulators can mandate that your app must have an api to make it possible to embed into another app, or some other requirement.
It's up to society to make these regulations, just like how society mandates building safety code, electrical safety code etc. Companies won't do this willingly of course, but they can if their competition is also forced to (level playing field).
Are you suggesting that the web is the way it is today because benevolent governments dictated it be so? Do you have any links about this?
Things are a little different now that private industry is funding most of this stuff
or, have mandated open apis that _force_ products to integrate.
That's what the web is today (mostly). Links, and embedable content (like frames). APIs and data.
The reason companies don't do this - as demonstrated fairly recently by google with their removal of xmpp protocols from google chat - is that open apis prevent lock. Open apis allows others to compete, and it is not in the interest of the existing incumbent.
IBM made a crucial mistake that apple didn't make when IBM opened the specs for their IBM compatible machines and drove down the price of PCs to what you see today - otherwise, i would predict that PCs would be just as expensive and incompatible as apple computers were.