This is certainly unworkable given the level of bots, spam, etc. that would be untenable for a volunteer moderator on a Facebook group, or an individual user, to deal with.
Maybe I am misunderstanding you and your point is more subtle: the government should have some rules around what Facebook can and cannot censor. Then I don't disagree with you in principle, I think we would have to get into specific proposals and weigh their pros and cons.
A blunt approach of "free speech, no censorship" isn't a convincing argument, but given the scale of impact that site-wide or nation-wide moderation decisions have on Facebook, I could be convinced that government oversight in certain cases makes sense.