Many seem to have been completely taken in to it, yes. And given it seems to have lead to deadly consequences already, I don't think it's unreasonable for these companies to consider it a huge liability.
So, when social networks' legal/liability or moderation teams take action on the precise content that was used to foment a coup, it's not terribly shocking from a legal perspective.
1: https://www.politico.com/news/2020/09/04/white-supremacists-...
2: https://www.congress.gov/116/bills/s894/BILLS-116s894is.xml
If we are ok with that reason, then we are ok with that reason, and we must acknowledge what else is caught in that net.
This is a slippery-slope fallacy. Facebook removing content containing speech directly associated with highly illegal activity doesn't mean the country is becoming socialist.