Everybody agrees that social media needs to suppress harmful content while promoting good content, but nobody can agree on what falls into which category. Many people are not acting in good faith, and will knowingly claim that bad content which should be suppressed is actually good.
None of this seems particularly insightful to me, but public policy discussions about social media tend to assume that there is some good faith arbiter somewhere who can absolutely separate good from evil.
That’s one of the reasons why the big social media platforms need to be broken up to eliminate their monopoly powers. Because that kind of power should not be centralized. This is a very old, solved problem; it’s why we have free speech.