they are of course more than aware of the extraordinary political cover they enjoy. That's why they hire politicians like Nick Clegg to maintain it, that's why they cozied up en masse to the Trump admin etc.
In this respect, current EU "regulation" is toothless, the real pushbacks would be outright bans, break-ups, forced open standards etc. Aggressive, even hostile action, effectively countries saying: we don't like your take on how digital society should be shaped, be gone now.