I'll think about that one. It's not simply a social good to have access to social media. There are potential harms involved. In my opinion, social media has done a fair bit of damage to a lot of children: availability of ugly content; bullying by classmates etc. Resulting anxiety etc.
Offering a parental control tool seems like it puts it in the right hands. And it also gives parents a tool to ensure that social media companies provide proper protections for children.
On the other hand, I am not sure how parents don't have that tool already. They can take away the phone if they wish to.