Sort of, but public companies generally can grow much larger than private companies. There's something to be said for the fact that Zuckerberg is using a public company like his private company because it's architected to give everyone else less control. If it was all his money, fine whatever, but he's burning shareholder value and shareholders have no power to do anything about it, and that seems wrong, IMHO.

But yeah, I haven't checked, but to my knowledge split-class voting shares are relatively recent innovations? It may take some corporate collapses before any change is made to the regulations.