My point is that if you are free to change provider without having to quit access to your existing network (same username/handle and connections), then you are

My point is that if you are free to change provider without having to quit access to your existing network (same username/handle and connections), then you are free to backup your data and move it around to different social media providers. At that point you are not at the will of one centralized company. If you feel like your rights are being violated, you can change provider. Following your parallelism with banks: if I have my money in bank A and I don't like how it is operating I am free to change from bank A to bank B.