As you stated, everyone is already shaping the narrative. But right now nearly all of the power to do so is highly centralized at a very short list of companies

As you stated, everyone is already shaping the narrative. But right now nearly all of the power to do so is highly centralized at a very short list of companies. You already mentioned some tech companies, but I'd certainly also add a bunch of classical media/news orgs like e.g. FOX and Disney. We could now discuss if democracy can work with so much centralized power. But the result we'll see is those powers fighting each others. It might be more obvious than before thanks to our current polarized times and such simple to identify targets.