Companies have show that they are incapable or unwilling to address the problems they cause. And market forces are not working to correct things. It’s also pretty obvious that saying “parent should take responsibility” is also not working. Just observe the world around you to know it’s a non starter.
This is where regulation is supposed to come in.
At the same time, companies have shown that they will abuse any personal information that is shared with them and we are now giving them more details about ourselves…