Of course who should have the power to identify hate speech and censor content and what the definition of hate speech is, that's debatable. However a platform like Twitter is also private property, another right protected by the constitution and people don't necessarily have free speech rights on somebody else's property.
As for the compelling arguments about letting Nazis speak in order to identify them:
1. read some German newspapers just before 1933 – the same arguments against censorship have been used then as well, nothing new
2. if you want to see actual antisemitism, some literal Nazis, go to https://gab.ai — nothing on Twitter is as bad as what goes on in there and the moderates that are against censoring such opinions usually don't realize how bad they can get or their reach
Again, I'm very much pro free speech. But free speech is not my religion and it needs to be balanced against the other rights that we have as well, like property rights, or the right to feel safe and to be treated fairly and respectfully.