Really the lesson is, don’t run a business that 100% depends on another company.

Come on, this is silly. You can disagree with it politically but technically it would work fine. I already have a digital ID issued by the government for doing online tax returns. Validating a social media account against that ID would be no more difficult than letting people sign in with Google or whatever. There will always technically be a way to get around it but 99% of people won’t bother.