Are you trying to imply that Facebook is a country? Because this doesn’t make any sense. Countries have an entirely different set of obligations, duties, and jobs to be done than a website dedicated to light communication and entertainment.
And no, I'm not advocating for Facebook to be nationalized or broken up. I'm specifically pointing out the thought that Facebook could innovate here; they have an opportunity to establish the first truly global self-governing internet-based company in history.
> a website dedicated to light communication and entertainment
This statement is deliberately obtuse. Facebook is a communal space used by 3B people every day to mediate conversations, transactions, news consumption, business, events, etc. I'd hardly say people building their livelihood off of Facebook is "light communication" or "entertainment". Again, look no farther than HN to find examples of Facebook's governance policies harming their users with no explanation or due process: https://news.ycombinator.com/item?id=29614629.
Moderation then becomes: what do the local cops tell people to stop saying. Government moderation policy thus approaches social media moderation policy.