My SO has been teaching for nearly 20 years now, and mental health in kids has fallen off a cliff in the last two decades. I could fill this page with online bullying stories. Some of which, are especially cruel. Half her students are on medication for anxiety. It's out of control, honestly.
That said, I don't know how to solve it. It's easy to put this on the parents, but that's not the answer. Otherwise, it would be solved already. Some don't care. Some don't have the time to care because they're trying to keep the lights on, and dinner on the table. And, some simply think it doesn't apply to them or their children. Parents on HN are hyper-aware of this sort of thing, but that's definitely the minority.
I know a family that would be most folks least likely candidate for something bad to happen online. Single income, relatively well off, the parent at home has an eye on the kids 24/7. And, if you met the kids, you would most likely qualify them as "good kids". Without going into detail, their life was turned upside down because one of the kids was "joking around" online.
Again, I don't know what the answer to the problem is. Clearly, age verification laws are a veiled attempt to both collect and control data. And, EFF's emphasis on advertising restrictions as a solution, seems off the mark. There's more to it than that. Idk, this shit makes me want to log off permanently, and pretend it's 1992.