You can apply that argument to any kind of moderation. The core problem is not that hate speech is censored, the problem is about who is responsible for applying the rules and how these people are selected.
Hacker News is also censored and moderated, but it is my impression that the mods are quite carefully selected. On Reddit, the mods are anonymous and external, and are elected in an opaque process which I don't have a good understanding of. I fear that you end up with the catch 22 also seen in homeowner's associations: The people who have the time and dedication to rise to the top in these kinds of organizations are exactly the people you don't want to be in charge.
Hacker News is also censored and moderated, but it is my impression that the mods are quite carefully selected. On Reddit, the mods are anonymous and external, and are elected in an opaque process which I don't have a good understanding of. I fear that you end up with the catch 22 also seen in homeowner's associations: The people who have the time and dedication to rise to the top in these kinds of organizations are exactly the people you don't want to be in charge.