This news less surprising than it looks.
“Regulatory capture” isn’t just about avoiding regulation entirely; more often, it is a way that industry leaders (and occasionally, savvy upstarts) tailor entry requirements to give their own business an advantage over their competitors.
This can go either way, and the same business may find it to their economic advantage to lobby for more or less or different regulations in different times and different circumstances.
My guess is that that Facebook’s main concern is that the EU regs align with their own plans and innovations and not those of current or potential competitors.
Savvy regulators can use that competition to the public’s benefit, by lining up support from companies that stand to gain from needed regulatory initiatives.
