It makes sense because regulatory capture has become such a large part of how dominant American firms maintain their position. They don't maintain it through talent. They maintain it by breaking the law. Google's now been found guilty of antitrust violations in two markets and a case about a third just kicked off. And of course this is not just in tech, take a look at the cases against the Kroger/Albertson's merger or Ticketmaster.

The Biden administration is basically the first one to take these violations of antitrust law seriously since Carter.

The goal is achieved. The founders are rich and fulfilled (and probably exhausted), early star employees have mostly cashed out. This is not at all surprising or hard to figure out. Larry Page tried to establish a corporate structure that would sustain innovation (Google -> Alphabet) but they were never able to recreate what they had in search.