'Town Square' is a misnomer on their part. The town square is the Internet at large and not some single silo'd gatekeepery app.
This is more like a big private club.
(are those still a thing? Practically every store of any size had one in the 90s, at least, but I haven't paid attention and can't for-sure recall seeing one in years)
https://www.theguardian.com/cities/2015/aug/04/pops-privatel...
https://www.theguardian.com/cities/privately-owned-public-sp...