He doesn't have to. However for a self-paraded "free speech absolutist" who literally said he would not suspend @elonjet in order to follow that principle, this act makes him a massive hypocrite and demonstrates his free speech advocacy to be nothing but a show.
Also, arbitrary suspensions like this when Twitter no longer has any decision-making council on such policies is not a good sign for corporate advertisers who prefer stability & reputation. Can't find those on a platform where one manchild has taken a dictatorial position.