There is literally an active anti-trust case against Meta right now.

We'll see.

Perhaps, but it's worth hedging against a potential Trump-Zuck fallout. Also, the statute of limitations for commencing an antitrust investigation is 4 years (15 U.S.C. § 15b).

Competitors just need to lobby sufficiently to get action

he's right. Trump is only marginally more M&A-friendly than Biden.

Trump is pretty anti-other social media.

All the big anti-trust against Meta/Google started under Trump (despite what Zuck claimed to Joe Rogan).