He's an idiot, but some of the things he's covered turned out to be correct and weren't being covered by the MSM so he's an occasional useful idiot.
They are private companies but they do hold a lot of influence (surely, given recent news about election interference that is being pushed?). It's not like some little forum (this one for instance), these are behemoth companies with little regulation. Just like newspaper ownership used to be controlled to protect undue political influence there should be some controls over them. They hold so much power now.
Most sinister is the fact that this was coordinated between multiple companies, What happens when someone is maybe blowing a whistle on something and want to silence them?
People rejoicing shouldn't be so narrow minded to think this is just about Alex Jones and InfoWars - this is about freedom and it's better to let some idiots have a voice than to live in a world where a few different people hold too much power.
It WILL be misused, it always is.
Who decides what is and isn't acceptable? Who watches the watchers?
We already know they have given control of the decisions to some pretty questionable groups that have shown themselves to be not up to the task of being unbiased.
It seems like they can't even be bothered to try to appear fair anymore - the NYT hiring of an outright racist is further proof of that if any were needed.
There are already better ways to address false speech than banning it as hate speech - libel and court action. If you look back it seems the messaging over the last election was a pretext to clamp down. "we're silencing people to help you" but still don't silence lots of actual hate speech or abuse, just opinions that they disagree with politically.
My prediction: Hilary will run for 2020 and there will be wall-to-wall positive coverage on all social networks and a cull of anyone speaking out or disagreeing.