Probably not - but there's a pretty strong correlation between people who think social media should be federally regulated and people who feel disproportionately moderated (fair or not) on the current web, and who believe they would be happier with zero value/quality/civility-based moderation (i.e. only legality moderation, as you suggested).
HN wouldn’t be allowed to remove that content — but that’s different than flagging it as inappropriate (as HN does now).
My vision is having HNs flagging system where the content is hidden but available by default would be acceptable — but FB or Reddit style of actually removing the comment would not be.
My long term goal in forcing content to be available is to provide more control to users — such as user side content filtering on places like HN.
I’m not against filtering what users see, by the users themselves: I’m against platform using their privileged position to do that filtering, in a way that enforces their political vision.