No one is arguing any different for traditional media companies. The question is more geared around the social media companies: Google, Facebook/Meta, Twitter, etc. In a world where so many people access these platforms, do they have a legal responsibility to abide by their own terms of service and not censor and do the People - through their government - have the right to prosecute them for not upholding Free Speech - especially since they claim protection from libel/slander?

While I don't deny that the government involvement is a direct violation of the First Amendment, the speaker in the clip makes the point that insofar as companies (publicly-traded BTW) engage in control of the mediums of conversation and speech, they tread into areas where they take upon themselves a duty to maintain a free society: and that means allowing free speech on equitable terms. I would simply clarify that there is a significant difference between sponsoring and/or curating content such as that engaged in by a media company and simply proving a marketplace for thought to happen. Right now, companies are doing both - and claiming that their activities are protected.