This is a popular misconception on the right. Regulation with democratic controls is better than letting privately held propaganda machines drive the public into fascism.
While no platform can deliver The Truth, it is the role of journalists to deliver context and accurate data. And social media helps deliver both well researched content and pure drivel. We need regulation and democratic controls of regulation.
Fox News argued that it's their constitutional right to spread malicious lies and half truths. And the courts sided with them. Even when those lies killed countless numbers of people. In canada Pollievre wants the same thing: media that is run by the "free market" (meaning all propaganda). I think politicians will have to choose between what donors want and what services the public good. And being politicians you know how they'll vote.
Democratic values work really well. Things like public education, transparency laws, public discourse, and campaign finance reform all have been good for society. And it's why the conservatives (and to some extent the Liberals) oppose them. Stronger democratic controls on social media would be a big step away from fascism.