I think that it's just words & images on a screen that we could easily ignore like people did before, and people are indulging a grandiose conceit by thinking that moderation is that important or serves any greater cause than the interests of moderators.
On social media that seems to be to serve the consumers, by which I mean the advertisers & commercial interests who pay for the attention of users.
While the old internet approach of ignoring, gawking at the freakshow, or ridiculing/flaming toxic & hateful shit worked fine then resulting in many people disengaging, ragequitting, or going outside to do something better, that's not great for advertisers protecting their brand & wanting to keep people pliant & unchallenged as they stay engaged in their uncritical filter bubbles & echo chambers.
With old internet, safety wasn't an internet nanny, thought police shit, and "stop burning my virgin eyes & ears".
It was an anonymous handle, not revealing personally identifying information (a/s/l?), not falling for scams & giving out payment information (unless you're into that kinky shit).
Glad to see newer social media returning to some of that.