You could still have "X Germany" or whatever, that cross-syndicates content with other "X $COUNTRY" companies. But it would be a local company, under the jurisdiction of local laws -- and that seems to be the point.

Yes, which is wonderful as new alternatives would grow. It's not like this stuff is rocket science, it's pretty trivial to build.

You make that sound like it's a bad thing. There's extremely little genuine value left in social media platforms to the average user these days. Most are completely focused on getting you to want to doom scroll, not actually connect with friends.

Maybe its time to go back to a simpler MySpace or FriendsReunited style setup for actual social media. The problem is theres not much money in that, nor are people likely to visit as regularly.

...and nothing of value would be lost.