Children and young people want spaces for social interaction without adult supervision. They will in any case find other places to interact, and companies will develop new services that do not formally fall under the category of “social media”. The alternatives are not necessarily better.
I mean, I've made the "there are fundamental enforceability issues" myself, but I suppose that for some politicians, if there's enough public demand for censorship, it's easier to just engage in whatever theater is required to show that they're being responsive to public concerns.