Using that same technique, I can say "Comparing internet access to being able to use your toaster is the height of disingenuous absurdity". You can see why this technique isn't really legitimate and should be avoided in public arguments.
This is not a switch, but a spectrum. Monopolies/oligopolies should be either broken down or regulated. Electrical companies should be more regulated, cloud providers less regulated, social networks perhaps much less regulated.
I frankly don't think social networks are that important at all, but I am trying to account for my biases. For many people and organizations, they are not really like a newspaper, a comparison many make here - they are more like a printing press, or a radio transmitter or something. If one company owns the entire radio spectrum or all the printing presses, it ought to be regulated.