Section 230 provides that sites have no liability for user content, and they have no liability for moderating user content, subject to some limited exceptions for certain types of prohibited content, or prohibited moderation.

With existing case law, in my mind repealing section 230 without replacement would mean going back to the old standard, which was more or less don't moderate and have no liability for user content, or moderate perfectly, because you are liable for content your moderation missed. You would probably also have some liability to users whose content you moderated off, but I don't know that I've seen a case with those specifics.