Here's a real bad take on the whole thing:
Legislators ought to incentivize entrepreneurs to innovate, and stay out of the way.
www.nationalreview.com
A) The authors clearly didn't read the text of Section 230, because even Ajit Pai's rumored regulations are about forcing everyone to be transparent in their moderation policies, and the entire thing was designed around getting smut off of most websites to begin with and B) these people clearly did not witness the growth of Big Tech first hand, because if they did, they'd know that there've been tons of competitors to Google, Facebook, Twitter, Youtube, etc..., but most of them have either died or been marginalized into being alternatives you only use because you're either banned off of those platforms, or in danger of getting banned.
Oh, and C) it takes a fuckton of money and specially trained personnel to get these things off the ground, so there's a super high barrier to entry that prevents newcomers from getting into the field, even before we add possible regulatory hurdles.
(If someone has a National Review account and wants to post this in their comments, feel free to do so.)