Precisely this. CEOs should have the right to remove vile content from their website. I don't see how this is such a revelatory or unprecedented move - doesn't this capacity to modify content exist on virtually all digital platforms?
The capacity to do this has always existed and the circumstances are incredibly trivial.
We used to trust that when reddit said a user wrote X, they actually did write X (excluding hacking). This was a violation of that trust.
Because of the actions of their CEO, reddit was falsely telling everyone who viewed the relevant comments:
> Fluid_Mechanics [score hidden] some time ago
> Fuck /u/spez
While knowing that Fluid_Mechanics had not written that.
(Names have been changed to illustrate the point.)
Lying, and a violation of trust, seem like appropriate terms.