Except that this story was factually incorrect and therefore "fake news". Social media sites remove or restrict such proven fakes all the time, be it with deletion or fact checking.
In turn, the question of "isn't this election interference" can also be redirected the other way - isn't distributing and amplifying such false stories also election interference? It is well known that social media algorithms often amplify such fake rage stories if left unchecked.
Of course, the question of "should private companies control communication" is a very interesting one, and I personally think that such critical infrastructure should be public. But I don't think there is a real interest to honestly discuss this question, rather, the issue seems to be that for some people, they wish that different private companies were in control, companies more in line with their own political views.