I don’t think either should be banned. We just need data protection laws. The government going after single companies sets a dangerous precedent.
What the EU did with some of their compliance laws that targeted Google and Apple was set a number of users, so it wasn’t necessarily targeting a single or set company, as it applied to future companies too.
Regarding the law abiding behaviour of Meta, well I don't have much trust in that. But I'd say that having a court decision not followed looks like a better reason for a ban then voting for that in advance just in case