Maybe so (that sounds believable, anyway). What he's saying is that the other 1% is unmoderated because there's no central authority [1]. The problem here isn't that people will share bad things if you don't stop them, the problem is that you're in a position of being held responsible for something outside your control. If it's illegal, it should be reported (or found by law enforcement whose job it is to enforce the law) and if it's offensive, offer some user-side filtering.

[1] this is starting to change, though - Amazon took Parler offline completely at the hosting level. Although they eventually found another hosting provider, it's not unimaginable that in the near future, service providers will collaborate to moderate the underlying traffic itself.

As late as 2018, torrent traffic has been quoted as the fifth in internet traffic [1].

[1] https://torrentfreak.com/netflix-dominates-internet-traffic-...