Look, there's always been something out there rotting the minds of our young. In the 60s it was hippies and beatniks, the 70's it was rock and roll, in the 80's it was heavy metal and video nastys, in the 90's it was gangster rap, in the 2000's it was video games, and now it's social media and the internet. In time we always look back with a much clearer perspective.
Maybe parenting should have a role, maybe not, but even if we limited our children's time with this stuff, it would still add up to millions of hours of consumption and huge profits for these companies. One thing I am 100% for - it is not the role of my government to regulate people's access to media. China is a communist state, so central control is the modus operandi, and that's all there is to it.