I think this is an unfair characterization. The only time I'm aware that the reddit admins have actually censored anything was the /r/jailbait subreddit, which given that /r/jailbait contained lots of borderline child pornography could hardly be called a massive freedom of speech violation.

(This is in fact the "violentacrez fiasco", if I remember correctly).

There have also been a couple of instances where subreddits have been banned due to violation of laws (/r/creepshots), organizing voting rings (/r/niggers) and vandalizing other reddit communities (/r/gameoftrolls).

I am no expert on internet history, so if there are any blatant errors in my understanding, please correct me. I understand reddit to be very strong on the principles of free speech and "lassez-faire" web policy. The same can not be said of the moderators of various subreddits, but this is not an admin issue.