I think it's fine to be concerned about the principle while in agreement on this use. Both things can be true.
And FWIW, that's the state in which I find myself. The president used Twitter to promote lies about the election that were consumed by his followers who then used social media to plan and execute violence in the US capitol. When that same cycle threatened to repeat, these companies stepped in. Good for them, what was their other choice?
But appropriate action in this case does not mean that the process and standards used are OK in the arbitrary case and completely agree that lack of legislative standards is the problem. The tech companies had not good choices here because as a society we've not yet set any reasonable rules.