No, you're looking at it in too black and white a way. It's not a decision between "no limits to speech at all" and "any limit is fine because free speech doesn't exist".
The line, at least in the US, is that all speech is free unless it "incites imminent criminal behavior". And no, the criminal behavior doesn't include criminal speech (that's just circular logic).
Yes, the line the US draws favors free speech far more than almost any other country. And that's a part of the ethos of our country. Other countries are free to do whatever they want.
And no, Alex Jones shouldn't have been censored (by the government). We don't allow the government to arbitrarily deny citizens rights unless they have been given a fair trial. In his case, a judge decided his speech fell into the realm of defamation and thus his victim was due restitution.
And that's how it should work. We don't need "speech police" and we don't need to create new laws to further remove people's rights. If someone oversteps the bounds of free speech then a judge can decide what to do, not Facebook.