This is why we need an online Bill of Rights.
When it comes to YouTube censorship freedom of speech seems applicable except for the fact that YouTube is a private platform with terms of service you have to agree to for them to host and distribute your content.
Perhaps something like utilities where a company operates at sort of a midpoint between private and public?
https://www.npr.org/2021/04/05/984440891/justice-clarence-th...
Honestly it sounds like this problem would be gone entirely. The government already defines speech that is so bad as to making it illegal despite the first amendment. Treating social media as a common carrier means they get to skip moderation entirely and just have to follow what is legally allowed.
Forcing social media to act as a common carrier could very well mean algorithmic feeds aren't allowed as they impede speech and still toe the line of censorship. Without algorithmic feeds we could be back to seeing just from those in your circle, meaning moderation shouldn't be nearly as big of a concern anyway.