Maybe it won't!
I feel like every time a controversial site gets shut down message boards are flooded with slippery slope arguments, but by and large I haven't seen it ever transpire.
Reddit was notoriously infested with white supremacist subs, jailbait subs, pics of dead people subs, and more, and they were all brought up to the admins many times, and the admins never took any action on this hateful content until CNN et al started writing articles about it.
It's not entirely unlike this situation with Cloudflare, really. These companies talk a big game about their principles and morals, but at the end of the day the only principle they strictly adhere to is the principle of public backlash.
I think the wider demonetization is part of a cynical attempt to sabotage non-publisher media generally, it’s not an accidental side effect. There’s a scorched earth campaign by certain activists at Vox, Media Matters, and even CNN to contact advertisers en masse and essentially threaten that they are considering naming the advertiser in a hit piece about objectionable content. They aren’t dumb - they know the fallout will affect independent journalists and media of all politics.
How many controversial topics can we recall that we lived through and where they became accepted overtime? What medium was used at the time and was it the popular communication method for the time. I'm sure historically there was a similar fight with what mediums were available at the time. Burning books or just killing someone who speaks out.
The internet can be the only method nowadays where people with little finances can make a loud enough voice be heard and there are still unpopular views I'm worried won't ever get accepted if people are not being cautious about throwing away measures. That's why the slippery slope argument is worth me typing. Even if maybe it won't!