I am scared of the masses believing nonsense. What fraction of Americans believe the election was stolen? How many people are still going to refuse to be vaccinated? Indeed, bad ideas are scary. I am scared that my country people will lead another insurrection or allow themselves to be a needlessly vulnerable vector for highly transmissible and dangerous virus.
Misinformation spreads like wildfire.
The notion that good speech counters bad speech relies on rational, well informed, critical thinking skills that are lacking in a significant portion of the populace.
It is fundamentally different that a company wants to exercise its right to free speech in choosing what is said on its platform than for a government to use free speech as a fig leaf cover for dissent.
Putting up no fight against misinformation and hate speech is not a winning strategy. Society loses much more from nonsense spreading than it does from having to wait 24 hours for high quality chess content to get remoderated.