"The proposed analogy is wrong. Rather than feudal lords being replaced by a semi-accountable, presumably representative government, asking the government to take over would be going back to the having just AT&T as the sole provider of telecommunications, with private ownership of phones prohibited. It would be a reversion from an open and competitive market (where those who fail to provide security can be abandoned freely, the exact opposite of a feudal situation where serfs were forbidden to leave their masters and breaking oaths of obedience would lead to hit series on HBO) to a single "provider" which cannot be abandoned or ignored.
Monopolies, in general, suck, and without an external force to shore them up, they tend to be short lived. I remember when Lotus and WordPerfect and dBase were "unassailable", and people were wondering if the government should force these companies to be more "competitive" somehow. Then it was Windows, and particularly Explorer, that was going to control the world because "no one could compete". Now it's Google and Apple. Either these companies actually provide the security they promise, or they lose business to someone who will. The fear of the "feudal lords" failing to offer the security they promise is a false one, because they have no actual hold if they fail to deliver the goods.
The role of government in this arena is making sure that companies are held accountable for broken promises, that they pay the costs for data loss and security breaches. ... The government should not be determining what security is acceptable, because governments and regulations cannot possibly keep up with ever-changing realities."