No it isn't. They are seeking out "racist" commentary so that they can ban sites they don't like. Something you may not grasp is that when you get to a certain level of money, you really don't care about more money. There are only so many yachts, helicopters and estates that you can use, and once you've got all you want to get those, the next thing the uber wealthy desire is social approval from their peers.
Do you think Jewelry and Paintings are really worth the ridiculous sums of money they pay for them nowadays? The demonstrated ability to pay so much money is the prize, not the object itself.
And while we're at it, the 3% of the population that consists of young black males commit approximately 40% of the crime nationally. This isn't an opinion, it's verifiable fact, but if you point this out, is this "racist"?
Are ugly unpleasant truths "racist" if they say things people don't like? Is "race" a forbidden subject? Is it something that no one is aloud to talk about?
Transgenders have about a 40% suicide rate. Is it a "hate crime" to talk about this?
And then the goal posts are going to move again. Anything the left doesn't like will be construed as "racist" or "hate speech."
If these were closely held privately owned companies you might have a point.
Trust me, the investors in these companies want profits, and if they don't think that's what the management is focused on the management will be gone.