People still have to look at this horrendous stuff.
European humans have the right for any automated decision affecting them to be reviewed by a human. We do not want a world where a tiny handful of people, getting fewer by the day if it's Twitter, have untrammeled control over what billions of people can say, see or do. We can't let businesses do what they like, change their policies on a whim and have it instantaneously applied by automatons, if it's bringing misery to millions of people.
Remember those old-fashioned things called laws? Courts? Judges? Legislators? The things we used to use for deciding what people could/couldn't do, before tiny companies with billions of users applied their own de-facto laws with no oversight, governance or accountability. Move fast and break things!
I don't disagree with you, the content producers are always going to outnumber the moderators by a massive margin. It makes reasonable moderation very difficult.