That is very nearly sovereign power
There's a reason we don't call it "harassment" and "reputational damage" when elected officials are criticized
The problem with Facebook WAS their independence; as a monopoly, they could censor at their whim, without suffering meaningful market consequences
Now they have made the problem even worse, with an unelected, appointed board
We need democratic accountability and oversight of their power over the public square
And we need the First Amendment to bind them in the same manner it binds the federal government
Liberals love "independent" boards and government agencies
Why?
Because they can be staffed by liberals, and are immune to backlash from the conservatives they might target