I downvoted parent, not because I don't think nationalizing FB is a worthwhile conversation - it is - but because his or her comment was completely lacking in substance.
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The biggest issue that I see with nationalizing Facebook is: what does it mean for the US government, bound by the First Amendment, to manage a social media platform? Can there be literally any moderation at all without infringing on the First Amendment? Honest question. Clearly, fake news and the like cannot be removed. What about spam? Personal attacks? What about when those attacks get racist and vile (the US does not have hate speech laws)?
After all, the postal service is in the constitution, so this country started with an essential communication service nationalized from the outset.
What if Facebook was government funded and supported in the same manner, instead of privately advertiser-funded?