At least Florida’s SB 868/HB 743, “Social Media Use By Minors” bill isn’t beating around the bush when it states that it would require “social media platforms to provide a mechanism to decrypt end-to-end encryption when law enforcement obtains a subpoena.” Usually these sorts of sweeping mandates...
Not that I disagree with your point, but Florida law is only relevant within Florida and, to a limited extent, the United States. Admins of US-based instances could likely be subpoenaed and then held in contempt if they refused, assuming they don’t pull a PornHub and just block all of Florida.
That said, this is very worrying since subpoenas have a MUCH lower threshold of legal bearing than warrants. I suspect that Apple will likely challenge this in court or they stop selling iPhones there.
And even then only to the extent those with the power to do so choose to enforce it. It might matter if you or I break the law; it will not matter in any meaningful way if Meta does.