I'm very skeptical of internet regulation and regulation in general, especially what Europe does (e.g. cookie banner, AI, overreaching right to forget). But I think it's insane that we somehow accept social media companies to have underage children on their site breaking the terms of service. Most of these companies deploy a lot of resources making sure we don't send out an offensive meme, use a bad word, or show a female areola, but when it comes to hosting content of 12 year olds, it turns a blind eye.
The fact that around 40% of US 8-12 year olds are on social media, against the policies is just insane and unacceptable.