Do you honestly think that the people who complain about their favorite website being censored by Google would be satisfied with showing up on page 200*? I wouldn't.
It's only "not censorship" in the same sense that having your emails sent to the Spam folder isn't censorship. The spam folder, and low-scoring SERP results, are so full of items that every reasonable person acknowledges to be crap that getting banished to that area is pretty much equivalent to having someone blast your roadside protest with strobe lights and a sonic cannon. Surrounding you with so much garbage data that nobody can see or hear you any more is only "not censorship" on the dumbest technicality.
* Ignore, for sake of argument, the fact that page 200 won't even load in our universe. I'm imagining a parallel world where Google pretends to be censorship-free because they only push things far down in the results instead of removing them entirely.