We appear doomed to repeat mistakes from history
Its hard to remember what the 90's Microsoft antitrust case was really about. Browser wars and API lock-out issues? What did it achieve? Look at MS' monopoly today. It is excruciatingly difficult to find a high-street retailer that sells laptops / pc's without Windows, anywhere in the world.
So if you extrapolate back from that and project onto Facebook.... Breaking the company up is the only valid option. Unless we all want to be sitting here in 20 years lamenting the lack of action. Lets not forget Google too.
Change has to come from somewhere but the political will is simply not there! So its probably not going to happen. Big tech is just so entrenched and holds all the cards and lobbyists. But its kind of ironic though because Facebook and Google's grip is really the softest in history. Quitting Facebook or Google is effortless. Try it! Yet here we are with this report: