That ignores the regulations in the EU, and the UK (coming into force this year), and also the huge volume of lawsuits they are facing in the US. Does everyone remember Zuck turning around to apologise to the parents in that senate hearing? Those parents must feel this is a slap in the face.

This is a decision for the US market first and foremost. The lawsuits you mention are sadly irrelevant to the decision-making; again, if you are about to be forced to make this change by Trump, the results of some cost/benefit study will not sway his reasoning. His decision is already made.

FWIW I would not be surprised if the bluster about championing free speech abroad gets quietly forgotten; we’ll see. They explicitly state they will comply with laws, which in EU likely means continuing to moderate (more not less over time, given the regulatory trends).

I mean, we can tell it's not about free speech because it specifically allows you to target gay and trans people, calling them mentally ill, but not religious people.