Also the fact that they have millions to bribe (or in friendlier terms "donate") their way out of anything, and have a network of very powerful friends and allies does not help at all.
Regulation should have started when the likes of Microsoft and Google started to become omnipotent and the big players in the Valley were not as powerful and influential as they are today. Now it's probably way too late.
What happened to the computer misuse act? If I specifically state that my site is not to be crawled, via robots.txt and other mechanisms, why does continuously hammering it not count as illegitimate access? Do they need to breach some sign in / explicit t+c agreement for that to apply?