I fully agree with Cathar here. As in most public debates, you're not trying to win over your opponent - your game is to win over the audience.
And I also would support the claim that it can work. I always think back to the global warming here. Ten years ago the local-language internets were swarming with bunk arguments, proliferating like crazy and seeping into real life conversations. But a conscious effort to clear the misinformation was made, conducted almost entirely online by just a handful of people. And it worked. The same old hardcore crackpots still try to post the same old tired bullshit. But these days, by and large, if anyone tries to drop an argument that global warming is a hoax, they get organically booed out of the conversation and given a reading list as a farewell gift. Nobody's got patience for them any more. They've lost the audience. Not because they were banned from talking, but because their arguments have been exposed as bunk in the public eye.
I think there are a few differences with the modern platforms that make this less effective. For one, the sites are run by algorithms that decide what to push into someone's face, based mostly what has previously driven "engagement". Everything is also aggregated, with only a tiny percentage of the most "engaging" material reaching a significant audience. I think those things together mean that you will almost always be "preaching to the choir" if you do the dull work of being the sensibility police (and an empty choir at that), while whatever is currently considered controversial and generating disagreements will automatically funnel people to another choir-preacher ready with affirmation.
It also really doesn't help that the people who use these systems most effectively are the worst liars and frauds, nevermind their politics. InfoWars is a good example; it's difficult to summarize briefly just how useless and dishonest that source of information is (the Knowledge Fight podcast is the most comprehensive cataloging of it), but suffice to say it is one of many scam operations which absolutely loved being on places like Twitter and YouTube. The deplatforming was a disaster for them, and they continually try to circumvent it, and is true of most career-trolls getting banned. The people who make money off of fake information have long-since integrated attempts by others to debunk the information into their business model. Anything that drives engagement is good (it brings in new traffic), and their audience will never be exposed to the best counter-arguments anyway. It's made worse by the format of the platforms themselves being practically designed to only support incomplete and pithy remarks that are almost always in some way false; the people doing the debunking often get things wrong in minor or major ways, and it only takes one mistake by the detractors or "mainstream" to further affirm to the audience that these other sources can be dismissed.
It's shitty to say "I love censorship", but frankly, I agree with Max here. These tech companies have stumbled ass-backwards into creating platforms that are finely-tuned to spread innacurate information to the targeted audience most susceptible to it, and the handful of personalities getting rich off making affirmational propaganda are having wildly disproportionate effects on the broader society. You can't engage with it for the sake of an unseen audience because there's a middleman deciding exactly who that audience is and registering your "engagement" as further endorsement (and it is typically turned effortless around on you by experts in deflection and bad-faith rhetorical tricks in the absence of a long-form medium). The companies will do a hackneyed, biased, irresponsible, and arbitrary job that aligns solely with their desire to avoid regulation and secure future rent-seeking, but deplatforming does genuinely work against the grifters who are obviously just in it for the money.
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