You and Brad and...gasp...even mcm 😁 are making some good points in the latter sections of this thread. There's certainly a good discussion to be had about what we want culturally out of social media.
Yeah, there are bomb throwers on this thread and then there are people having a thoughtful discussion about what we as a society should want social media to be. There are the aspirations for that and then there are the business realities of that.
And then there is a larger point that I think you are making...there is a LONG history of asks by government to private business (more specificially, quite often various forms of media) and vice versa. For example, when CBS got a tip about the Brittney Griner deal with Russia, the government asked CBS not to break the story until she had been freed. Is that suppression of free speech?