I barely paid attention to it. Smacks of yet another round of the dog and pony show they put on every time Google/Twitter/Facebook makes the news for being too big/powerful. They show up, get scolded by committee members totally unqualified to speak on the topic at hand, and then they all go smugly home.
With any luck this round will be different, as you seem to suggest. If the threat to their business is deemed real, then they will react and address. Regulation adds cost after all. I hope that they are willing and able, otherwise yes, they may pass the buck onto the government. They'll go and drag Tom Ridge back out to head the new Department of Homeland Security. Dept. of At-Home Security?
Facebook would be a much friendlier place if it was a space for discussing the maintenance of Volvos.
-Will
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XC60 / Odyssey
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