Censorship by stealth.
.. because that's what it amounts to.
Platforms will start making their content "acceptable" to the "general consensus" (ie. right wing bible bashing hetero caucasians) in order to allow general access to content.
"Unsuitable" material, like sex education, domestic violence advice, sexual orientation and religious freedom will "vanish" from the internet, just like it already is across the platforms run by USA billionaires.
Those who fail to comply will be taken to court and those too small to fight will close down their internet presence.
The credit card companies are already doing this for anyone who sells anything they don't like.
This current wave is just more of it.
It has absolutely nothing to do with keeping children safe, and everything to do with control.