This will force people into camps and the camps will not see each other creating a massively re-enforcing echo chamber that will further inflame things.
That said, while I do vigorously support free political speech -even disagreeable political speech (if you don't then it's "speech I agree with"), unfortunately, you have people who don't know where to draw the line and cross into vile threats and other heinous crime.
It's a case of why we can't have nice things. A few people ruin it for the many.
But yeah, this is going to be disastrous for us. However, the social media companies and the regular media made this bed and they are happy swines right now.
I hope other countries wise up to especially social media platforms (be they from the US, China, Russia, etc) and build their own to avoid having large countries influence how smaller countries should conduct themselves.
That is basically, a few corporations are setting the tone of discussion for all people except China, North Korea and Iran (who, in retrospect, "wisely" banned them). That's not a good thing.
They are the culture barons and they are not shy about using their power to steer things.