Im totally against Social medias. And believe they have caused mental health damage to large section of the population.
but lets talk about general censorship vs freedom without Social medias in the equation.
You could argue that freedom of speech is a sacrosant right, like the right to live, that no law(not even the constitution) can overrule. You will lost that battle, with reason, because things like child pornography or slander must not be protected.
So the second approach is to say, ok, some things are better censored, let the laws to clearly define that. If something must be appended or removed, do it through the appropriate channel, sponsor a bill, vote it, make it law, create the precedent.Rinse and repeat. A tedious game, but a needed one.
What you cannot do is to let the techno-barons to decide themselves what should or shouldnt be said, when they are managing platforms that are quasi-monopolistic.
If there is one thing about laws is that they're messy and complex, a reflection of the world we live in. Our culture and values constantly evolve, and the laws are normally following those so something legal or illegal at this moment might not be in the future.