The fundamental problem is that there is collective action on both sides of the issue. There are plenty of people organizing for the removal of "hate speech", and there are plenty of people organizing for free speech. It's not exactly clear which side is economical since you're not going to make both sides happy.

Tech giants have picked the winners and I'm pretty convinced they've picked sides based on their personal convictions. They're removing hate speech because they think they're on the right side of history, not because they think it will make them the most money.