I would say the distinction here is allowing some parties "direct influence over millions of people" and not others. As other commenters have pointed out, it feels like the decision on who gets access to the "virtual town square" is a small, un-elected, and limited-accountability group.

I do agree with your final point-- if social media went dark tomorrow, no ones rights would be diminished. But if it went dark for only certain people, I think we would agree that -something- is being diminished (even if it's not necessarily a right or that it's in the best interest of everyone).

I fully believe that this is a topic where people get to land differently, and I respect those that do their mental calculus differently. There's so many second-order and third-order effects when it comes to speech, and then you amplify it to global-level... there's no great, clean answer. But ultimately, we get to choose what we weigh as most important-- as I've heard others on HN say, "If we wrap ourselves around every conceivable axle then nothing will be achieved."