It's a concept that can be abused for certain, and I suppose that makes it dangerous.
Unfortunately, there's also dangers in not intervening.
Every space in which valuable discourse takes place has to take some form of order including restraint seriously, otherwise the bad drives out the good. And if you look at the places we take discourse most seriously -- institutions of learning, courtrooms, legislative bodies -- because valued outcomes rely on how robust the discourse is, more order and restraint requirements seem to become the rule. And yet there's also lots of thought put into how to allow as much input as possible, even outright adversarial input.
It's possible that at a certain scale, social media systems have to move from a laissez faire approach to some sort of similar balance. It'd probably be best if each took responsibility to decide what that is. Twitter's approach doesn't have to be the same as FBs, but everybody has some responsibility to try and make discourse as good as they can (at least, if the reason they value freedom of speech is because of the value of discourse, rather than as a personal indulgence).
> What ever FB censures, half the country will be mad at it. FB can't win here.
People across the political spectrum are already mad at FB, and some have decided on a posture that lets them push the drama that FB is biased against them no matter what FB's actual policy is. FB has nothing to lose by making its best faith effort. And I'd like to think that no matter what someone's general political sensibilities are they can find a way to advocate for them under conditions where order and some degree of accountability for truthfulness is required of them.