> if minor data or chat sessions are mishandled without explicit parental consent

I know this isn't what you meant, but I can't help but laugh at the thought of a parent consenting: "I consent to the mishandling of my child's data"

As to your actual point, yes, I assume they are trying to reduce liability, especially if they're gearing up to an IPO.

Since I see so many small kids with FB, Insta and TikTok accounts made for them by their parents - I find "I consent to the mishandling of my child's data" only funny in a very dark way.