>if a company claims section 230 protections
No one claims section 230 protections. It applies to everyone and every service on the internet in the US.
You can't "lose" those protections, they're just the law.
And that law states (paraphrasing):
You can't sue me for something a third person says.
That's essentially it. You can't "qualify" for or "lose" that protection.
And it applies to you and me and HackerNews and Facebook and Twitter and your github repo and your favorite recipe site and every other web site and Mastodon instance and Discord channel and mailing list and IRC channel and porn site and anywhere else that allows more than one person to share their thoughts.
>it must have a fair and transparent process when blocking someone. And it must apply this process to everyone equally, with the possibility of an arbitrator.
That's not part of the law either. And a good thing too.
Section 230 (yes, I'm saying it again) says (paraphrasing):
You can't be sued for something another person says. Full stop. No fairness is required, no balance, no transparency, none of that.
Should the big social networking sites be regulated and reined in? Absolutely! But changing/repealing Section 230 won't do that. In fact, it would hurt everyone and the deep pocketed social media companies would be just about the only ones who could afford to fight all the lawsuits.
We need to find a different way to fix this.