You add in the word "foreign" for no apparent reason. What makes you think the EU is targeting FB for being American? I see no proof of this. Size, sure, but the EU also has many regulations for the internal market. For example, we actually have net neutrality, and there's now regulations to limit roaming charges.
The argument they’ve made is that they are targeting FB and not their competitors. If true, it has many possible abusive implications, one of the common ones being protectionism. It might not be that, but it is a huge red flag that it could be that.
I did not edit my original comments where I clearly said “leads to”. If you think that meant an accusation, then that’s your right of course, but it isn’t correct to then say I was using similar language to back out of it.