"They don't censor reverse racism as badly" is a far cry from what you are alleging. It sounds like Facebook realized they were overmoderating and backed down.

And, furthermore, I would rather tech giants err on the side of less censorship. The problem that they've engendered over the past decade is that they want to punish everyone rather than just dealing with narrow problems. If you realize your platform is being used for, say, harassment; you don't need to impose stricter speech rules. You need to make it harder to use your platform to harass people and provide meaningful support to those who have been harassed. They didn't really... do that. They imposed broad "whatever pisses off our advertisers" policies.

Related note: Reddit did not correct their racism problem. In fact, site administration has explicitly intervened to prohibit operators of such subreddits from closing them down (such as in the case of /r/KotakuInAction). The only time they ever bother enforcing their own rules is when those subs become enough of a problem that investors or advertisers get cold feet.