A lot of the time people have this conversation from the perspective of the person who has no horse in the race. They aren't a Nazi, nor are a target of Nazis. It ignores the people who are effected.
Imagine you are in a space and someone posts a death threat targeting you. Others rally around that as any censorship is bad censorship. Every time you use that space you get a reminder of how someone particularly wants you dead. Now imagine that becomes just a regular part of your day. Over and over and over again you are exposed to people smugly calling you less than human, a threat to society, a moraless degenerate. You get this nice cold shock whenever you see it and get to remember how vulnerable you are, how gleeful these calls to take your rights away for something you never opted into and can't opt out of... And you are expected to take whatever anxiety is sown in you as just normal. That burden of people gleefully discussing your death just gets to be a part of your everyday. To others looking at you dealing with that burden it is treated as tolerable level of permanent unhappiness. It's simply not supposed to be other people's problem. You may not ask for assistance with managing those burdens because the cost of societies "tolerance" for speech has decided that you must personally pay for everyone's unrestricted discourse.
Then there's the other half. Say I create a platform. Maybe I am running a print shop. I maintain it, run it, and think that I am doing society a service for facilitating a means to communicate. I find out someone has been printing death threats at my shop. Maybe they are even death threats towards someone I know. How would I feel knowing someone is taking the resources I manage, using the infrastructure I maintain to specifically terrorize someone? This person printing these death threats made ME complicit in spreading their death threat so that someone in the above example gets to feel unsafe as they go about their day. In fact, spreading death threats is a crime. Should I not be allowed to refuse to take their business?
We as a society have the ability to differentiate between death threats and other political discourse. Calling for a genocide of a group of people - is a death threat. It may not be directed at a singular person but lemme tell you when you are the target it feels like it might as well be calling on you by name. There is no moderation policy, even an unrestricted one, that is truly ethically neutral. Your choices about what is or isn't allowed on your watch always effects people and the mental cost is borne by someone.
