They could have easily said we don't allow illegal content and that would be the end of it. I would be fine with that. It would mean a jury of my peers would determine if whatever was said violated our societal values.
That's not what they said. That's not what any of them say. Instead, they very clearly state that they will determine what is and what is not allowed by their standards.
They are within their legal rights to do so ... but I am in no way in support of that. I do not want Google, Twitter, Facebook, Amazon, etc. in charge of what we can and cannot say in public. We, as a society, should frown on that and those working in those companies should speak up during meetings when that is proposed.