I really do not think this a fair portrayal. At all.
It is not unreasonable to take the position that 1A protects the big social media companies, whether from the perspective of thinking of them as “voluntary associations” (in which the owner, not the members, gets to make pretty much any decision they want moment by moment as to what expressions are allowed or not), or considering them as corporate persons with 1A rights and just fairly few responsibilities.
And I understand the argument that market forces will perhaps punish some level of egregiousness: users (who pay for the service with their private information) and advertisers (who pay with money) may move away from some level of whatever.
My and others disagreeing with your takes is not our hating 1A.
I have concern that oligopolic power of the dominant platforms is a problem, and is a bigger problem waiting to happen. I have concern about advertisers’ interest as the big drivers and regulators over expression that is not related to their product. Yes it was legal for the NFL to cancel Colin Kaepernick out of concern that football fans might lean to disapproval of what they saw as disrespect to the flag. They flipped when it became clear that flipping was the better business move after all. System works, right? And it is legal if at any point the big platforms decide to subtly or explicitly kneecap any expressed POV put onto their sites. Unpopular views are not so often a profitable thing; views that piss off those who regulate you might be good to restrict. Good business decisions.
I’d however prefer something that preserved 1A and protected us from a circumstance which creates “truth” by advertising convenience, or by mob rule, or by governmental fiat.
I do not believe that the answer to principles under dynamic tension with each other, the interest in having a public square full of a diversity of ideas, and the interest in slowing down the malfeasant disinformation, requires giving up entirely on one or the other.