The idea is that security is hard and expensive, so we serfs surrender ourselves to feudal overlords (Google, Microsoft, Facebook) in exchange for protection.
This model has been bitterly fought since the beginning. Problem is the underdogs have never had the money, and governmental support to manufacture consent in the masses.
What are the alternatives? Surely we can't design our own systems from scratch and outdo FAANGs in terms of security, and any underdog trying to change the status quo will end becoming a feudal lord itself.