It’s really filtering for “advertiser friendly” which is a proxy for “content that doesn’t upset people”. The intersection between that and “truth” is definitely not a perfect overlap.
Harmful and "false" content shouldn't be censored by tech platforms either. There's no API for truth.
There's some role for courts, through libel/defamation lawsuits. And even then, the general criteria is false factual statements (not merely opinions) causing demonstrable harm _intentionally_.
Conversely, will beneficial but false content also be taken down, or will that be allowed to stand?
And we're all working with same definitions of "harmful" and "beneficial", right?