Tech giants expressing openness to amending Section 230 are doing so out of naked self-interest, not the goodness of their hearts.

Source: Facebook Welcomes Regulations, Specifically Those That Hurt Its Competition – Reason.com

Many people do not realize that this is how much government regulation works. Those being regulated end up largely writing the important parts of the regulations.

This occurred in the past for airlines, trucking, banking and other heavily regulated industries. The regulations get structured in a way to protect large, existing incumbents – while harming or preventing new competitors.