The US government is very far from small. That said, I'd be open to rules on the data broker industry though considering it's scale and how the foreign governments can buy/hack them bypassing all of Tiktok-esque national security handwaving.
Think for a nanosecond about how exploitable that is. Imagine for a moment that a foreign nation had obtained proof that say ICE was engaged in sex trafficking and publishing it only for it to be blocked as 'destabilizing propaganda'.
If anybody says that propaganda is a valid reason for censorship I say, censor thyself first.
No one said anything about censorship. There are many things that would pose a threat if controlled by a foreign adversary. Communications platforms with algorithmic feeds are one of them.