You’re exactly right on both counts. When you hear it from politicians, the sound bite (byte?) is “to protect the children” which is ambiguous. I take it to mean to protect the data of my children, somebody else takes it to mean to protect my children from being brainwashed and the children running the social media companies take it to mean it’s protecting their right to wealth. It’s win win win!

If the US govn’t were serious about protecting people, they’d implement GDPR and put data privacy into the hands of the individual.