If there was a single newspaper that was read by 3b people I think many would be rightly concerned that it has too much power/influence. Why is this any different?
That's setting aside the fact that Facebook does not even try to firewall content moderation from advertising the way a traditional newspaper would.
FB played a significant role in Brexit and US Presidential elections, enforcing filter bubbles, and running ads in violation of campaign finance laws (i.e. Russia).
Facebook has also performed studies where they controlled the items that show on individuals news feed and recorded how it changed their emotions. Controlling 3b people is exactly how I would describe it.
This bullshit hyperbole helps nobody