This isn't about the government banning anything, it's about the responsibility these content hosts have to not be a conduit for dangerous disinformation. You might think it's trivial, but there's a reason why so many far-right terrorists were radicalized through social media. And it's not only about terrorism. The entire "stop the steal" movement came from Facebook's inability to hinder the spread of the Big Lie. That lead to January 6th in the US, and it's definitely not done yet. The same goes for anti-vaccine movements, climate "skeptic" movements, and so on.
This matters.