I suppose limiting sharing might be justified. But limiting access and/or deleting own files is outrageous.
For that matter, collections of misleading content can have legitimate purposes. Such as research.
Now I'm seriously considering dropping my Drive subscription.
Update: I got a lot of upvotes, but tbh I may have misunderstood the new policy, which does seem to (maybe?) only be limited to distribution of misleading content. I do think Google has a legitimate interest in regulating use of it's services as means of distributing information. I'm not sure where the line is, though. For example, if I sent an email to a friend in which I said something that isn't true, I think I would rightly be upset if Google refused to deliver the email. OTOH, if I was sending this to large numbers of people regularly, as part of some kind of misinformation operation, then maybe blocking me would be a legitimate. Complicated.