We’ve let only a half dozen websites more or less completely control the internet on the front and backend - far fewer than the number of utilities it would take to turn off someone’s electricity. That kind of power is not just a free speech issue, it’s a national security threat and it’s only being celebrated because it’s being wielded, for now, against people we don’t like.
Imagine a future election where one candidate wants to classify social networks as utilities, and the other candidate wants to do nothing but set puppy orphanages on fire. Candidate 1 has her social media pages cancelled for nebulous violations to a labyrinthine TOS, and she loses the election - because that is how people are reached in the modern world.