Which alternative are we talking here? Doing nothing? Or the alternative I mentioned where governments actually do something for a change?

doing nothing. Governments typically marginalise techies when it comes to decision making, so the least they can do is make the call of lesser harm.

If kids really want to use social media, they'll find a way. Its more about making it hard/impossible for those who haven't yet grasped their agency. As ever, its about electors and in this case: parents.