Before you dismiss my anecdote as one mistaken lawyer, note that the chairman of the FCC (who is a lawyer) and Justice Clarence Thomas both think that Section 230 doesn't offer nearly as much protection as social media companies seem to think it does. In response to recent events, the FCC plans to issue statements clarifying the meaning of Section 230.[1]
1. https://twitter.com/AjitPaiFCC/status/1316808733805236226 "Social media companies have a First Amendment right to free speech. But they do not have a First Amendment right to a special immunity denied to other media outlets, such as newspapers and broadcasters."
Publishers can do this, yes. They just are not offered the legal protections of being a platform, if they act as a publisher.
The point is, that someone is acting as a publisher, then they should have these legal protections taken away form them.
Section 230 will NOT get removed. ISPs and email service providers, and blog platforms, will still be able to use it.
But companies that add/remove/replace/gray-out/delete/hide/push-to-bottom content that they claim they did not editorialize -- will be called Publishers.
So these businesses will not be able to use statutory protections that are available for non-publishers under section 45.230.
An analogy might be: a for-profit-business cannot claim tax benefits available for a non-for-profit organizations.
So the tax-code does not get removed, just because somebody was actively abusing it. It stays the same, but the abuser would face criminal investigation.
And if the abuser was found to systemically and purposefully avoiding to be recognized as 'Publisher' (or as a for-profit business in this analogy), then the criminal penalties would be more severe, then otherwise.