That's a pretty clear line... On the one side, even if the US government is not adequately regulating private companies today, it could begin doing so tomorrow,

That's a pretty clear line... On the one side, even if the US government is not adequately regulating private companies today, it could begin doing so tomorrow, or if it's a question of legality, any individual or group could bring a case against those companies, and have it decided on by a judge who can actually make an impartial decision. On the other side, you have a single entity which answers only to itself, and makes the law. There is no-one "above" that entity, even in principle. If you don't like the things it's doing... tough.