Increasing the age a few years for when young people are allow to make accounts on social media is not going to make a large difference in the big picture of things, and do not address the core problem that is the collection and abuse of massive amounts of personal data.
Upping the age limit a few years is a compromise that big tech can live with. Here in Norway, we've had a 13 year limit for years, but most parents have not cared so far and help their kids register at a much earlier age anyway. This is changing though, as more people realise the downsides of addictive and manipulative apps fighting desperately for our data and attention.
It is frustrating to see how unwilling we are to address the economic incentives that causes the biggest harms.