One thing I keep seeing is people that are ideologically opposed to restriction of speech keep getting caught up in a semantic argument about the rights of private companies- and fail to actually come up with a solution.
This far into the game, when the sitting White House press secretary goes on record stating that the current administration has been giving these social media companies guidelines and cues on what to clamp down on...we are so far past these arguments. And regulation/regulatory capture is not the solution. These exemptions are really just retroactive proposals to legalize what the big tech social media companies are already doing.