You can't have freedom if a few people have a microphone that reaches hundreds of millions of people have zero responsibilities for how they use that microphone.

If you actually haven't used social media recently then I get why you'd be confused, because back in the day Facebook had a chronological timeline of people you specifically added in. The way a modern social media recommender algorithms work is completely different. If you, for example, say "I want to hear everything that Bob has to say" by "subscribing" to Bob or whatever, you "might" see when Bob says something, or instead you "might" see Mary's post from the other side of the world that has some strangely aggressive opinions about someone the billionaire platform owner happens to hate.

Social media companies have decided by buddying up to the US administration that they get to decide what everyone around you sees or hears. If a couple of billionaires decide that they don't like phyzix5761 you might just get lynched by an angry mob. That's not gonna do much for your freedom, in-fact it's kind of the opposite.