> Now they can just make their propaganda engaging enough and Western companies will happily host it and promote it for free.

Important to distinguish here that all of these companies are not just Western but American.

Do we have comparable European companies though?

I'm sure there's examples of non-US media companies pushing ragebait and similar. e.g. from the UK, there's BBC, Telegraph, Daily Mail, local news sites etc.

It's a perverse incentive that in chasing engagement, the ragebait is selected for.