I mean by that logic you could say that China has free speech but anyone who speaks out against the government just has to 'face the consequences' of being put in prison.
> Companies do not have the power to throw people in jail or legally kill with a military.
Blackwater is a private enterprise and arguably is able to legally kill (and is in a sense a form of private military). Beyond that obvious example, private police agencies have existed in the US for some time.
A lot of people don't like the idea of these social media (i.e. ad-tech) companies trying to influence public opinion, especially when these platforms initially billed themselves neutral parties.