The issue I have with that thought is if you do remove such protections and it doesn't stop their behavior, then what?

Their behavior is fundamentally not profitable. The only reason they can continue to do what they are doing is because they are being supported outside of being unprofitable.

Think about YouTube for a second. Susan lost Alphabet something like $80 Billion in valuation because of her policies on YouTube. In a profit driven business, that kind of loss would be so utterly devastating that she would have been thrown out onto her fucking neck. The reason it doesn't matter is to Alphabet is because they are able to be supported by vast swaths of money being pulled not only from other sources, but from the government as well. Those protections, and that funding, means that no matter what the market says, no matter how much the program looses, they are going to keep pushing.

There is already a market demand for them to stop what they are doing, the state is protecting them. Stop protecting them and their behavior will change or they will die, as all unprofitable businesses must... unless they are protected by the state which never makes money.