I get what you are saying but don't you think that Facebook selectively taking down some pages based on political considerations actually increases their power and not decreases it?
Toxicity, violent rhetoric, racism, conspiracy theories, and lies in general all seem to thrive on social media. The Streisand effect is also a real thing. But there doesn't appear to be a meaningful overlap between the two after about a month.
Infowars gained a huge number of people when that guy was deplatformed, but that kind of nonsense needs a constant influx of new people when people eventually get burnt by believing something like Sandy Hook never happened, Q is real, Jews and black people are the cause of all your problems because you're special, etc and hard evidence gets presented. People wise up and peel off.
The legal aspect may include legislation to forbid governmental organs and/or employees (of note) to use platforms such as FB and Twitter to disseminate and or engage the "public". If they engage the "public" then the platform must be open to "public" without restriction.