That seems like a "creative framing" of what was actually happening during that time.
Some of the actions were "indirect" or "implied" threats about what was going to happen if the social media companies didn't adopt a ToS and censorship protocol that was to their liking.
If it was really "left up to the content managers", and wasn't aimed at any type of coercion, then what was the point of hauling all of the tech executives up to DC to put them on the hot seat and get grilled by a dozen Senators?
There's an aspect of Constitutional law known as the State Actor Doctrine...
In a nutshell, it basically dictates that anything the government wouldn't be allowed to themselves (with regards to individual rights), they can't ask a non-government entity to enforce on their behalf. And if the government is enlisting the services of a private entity in some sort of "public/private partnership" or, if a private entity is a performing a task that would normally be the function of government, that private entity is then constrained by the rules of the constitution when performing that task.
When they called up the tech Execs to get grilled by the Senate, they were treading that line.
Forcing a tech CEO to come up to Capitol Hill to ask "What has your organization been doing to prevent this kind of misinformation we don't like?"
(with the backdrop of them openly acknowledging they want to revisit Section 230), can't really be seen as anything other than a thinly veiled attempt at coercion.