Everything we have learnt about companies in the past decade or century makes me doubt this. One recent standard is Google's AMP, which was marketed as a standard to improve the web. It was shown in the recent court filings to be used as a way to impede header bidding and they added 1 second delays to non-AMP ads to give AMP a boost. Like we have clearly defined and enshrined in law the #1 law of all companies - maximize shareholder value. The second shareholder value conflicts with public good, there can only be one winner. Why is anyone surprised?

Comparing themselves to W3C is a nice trick but they are not at all alike. W3C is a non-profit funded by its members. Facebook is a shareholder-controlled corporation.