Yes. Social sites had a card blanche to publish anything without consequences because it was user-generated content.

Social sites used that power to publish their own stuff under the same protection.

That has broken the system. Social media sites are 100% responsible for all the misinformation, scams, and hate that they publish or promote. And they should be legally accountable for it.

"We are not accountable because the users are the ones posting the media"... but we post and promote whatever we want is a terrible way for the world to work.