Social media companies are of course not obligated to distribute any content in particular, and in fact they are obligated to remove content which is illegal.
They are however only protected from civil liability for good faith restriction of otherwise legal content on their platform. To the extent to which that moderation is done on content that is compliant with the TOS, or without prior notice and indication of what terms were violated, or only selectively with an agenda to influence the broader social discourse, they may not necessarily benefit from an assumption of good faith, and therefore may be subject to civil liability.
And honestly, who wouldn't want social media companies to have a more fair and transparent TOS and moderation policy?
They are however only protected from civil liability for good faith restriction of otherwise legal content on their platform. To the extent to which that moderation is done on content that is compliant with the TOS, or without prior notice and indication of what terms were violated, or only selectively with an agenda to influence the broader social discourse, they may not necessarily benefit from an assumption of good faith, and therefore may be subject to civil liability.
And honestly, who wouldn't want social media companies to have a more fair and transparent TOS and moderation policy?