I mean, it's pretty blatant we already live under a totalitarian society. Corporations run and own absolutely everything and we have no sway over what they do or how they are organised, Mircosoft hold all the keys here and like you said they get to decide how speech is decided and thats final as far as they are concerned. They aren't doing it to protect anyone, they just want to keep shareholders and that means avoiding their cutting-edge tech saying some weird shit that might scare away sponsors and a bigger userbase. They aren't protecting anyone, just their bottom line.

We have decent living conditions in the West and sometimes they feel generous enough for us to have a bit of a say in what candidates from the hugely privately funded parties - who align economically - get to hold positions. But otherwise we don't get to decide who runs the banks, the corporations, the privately owned energy sectors, the military and so on. We have no say in any of it and the vast majority of wealth and power belong to a relatively tiny portion of the population.