The fundamental question is, do people have a right to free speech on the web?
The web is nearly entirely privately owned, which makes answering this question difficult.
On one hand, the web is where we do 90% of our communication these days.
On the other hand, the web is privately owned not public.
I’m convinceable either way. Did telephone companies have a right to censor land line speech? Should ISPs be able to censor? Should Cloudflare? AWS? If telephone companies would have run afoul of the 1st amendment to regulate phone speech, It seems like other “foundational” industries like ISPs and Cloudflare should be regulated to be “dumb pipes”.
Where social networks fall is less clear.