Re: Screwed the pooch and knows it
Traditional news media has been controlled by a few ultra-rich individuals from the beginning. The impact of Facebook banning the Labour party would probably be far smaller than all the major Murdoch papers and Viscount Rothmere's Mail and Sunday Mail all publishing consistently anti-Labour and pro-Conservative messages; which is exactly what has happened repeatedly in the past.
It shouldn't be a controversial opinion that America, and some other western democracies, are in a dangerous place. There's no evidence to even imply that the election wasn't free and fair, but the majority of republicans support the storming of the capitol by a mob, and members are threatening their own representatives for not lying.
I share a concern about social media companies becoming gatekeepers to information, but we have to look at whether they are being used by state or private entities to manipulate public opinion and undermine the state. If social media companies not taking action would lead to an inevitable slide into fascism and the end of democratic elections (which may or may not be the case) then them acting would certainly be the lesser of two evils.