The question is whether big Tech is too powerful

Yes they are, in my opinion.
They (YT, FB, etc) have the ability to stop whatever they want, they force us to listen to what they want us to see and hear (just like the major news outlets).
We can be blocked on social media, we can be put in a time-out on their platforms; also happened to Candace Owens on twitter over the weekend- her page was unavailable to her for 12 hours.

I gave up on FB, Twitter and others in the last two years. I have no need, or desire, to being subjected to only what they view as truth and for my best interest.

I stopped watching and listening to the news as well.