Hate speech is not something you can nail down, because it's not a real thing. The working definition of hate speech, as it's actually used is "Anything I don't like". I could very well say that you are being hateful against right wingers (I'm not saying that, but I COULD), and it would be about as sound an argument as any other for hate speech.
So yes, if a platform has a monopoly, then they should be coerced into allowing "hate speech".
EDIT: I should probably make it clear that my preferred solution is to force (yes, force) Twitter and Facebook to make themselves compatible with API's like activitypub or similar. I understand that's a pandora's box, but we seem to be in Pandora's emporium in this situation, and must open some box or other.