Certainly some kinds of right-wing hate are suppressed but there is very little pushback about widespread misuse of the word "fascist" to describe your local police department, or people in women's sports who use period trackers to prevent ACL tears, mainstream milquetoast politicians, or just about anyone.
On the other hand a lot of it seems like BS, there are two Mastodon instances that seem to be at war with Hacker News, I think I understand why one of them is mad at HN, I don't know if the second is mad out of sympathy with the first or they have some other grievance.
Many mastodonsters were concerned that Threads would be poorly moderated (might allow posts about how period tracking prevents ACL tears in female athletes I guess) but Threads pretty much dropped everybody's radar.
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One angle is that a system like this should have "defense in depth", like you try to create a culture where hateful speech is not welcome, where people don't try it because they know they'll get disapproval, where people know they'll get confronted if they call Keir Starmer a fascist, where people know you just don't boost hateful things, etc.
In that sense you might just want to cultivate a lot of positive and neutral stuff and encourage people seeking negativity to go elsewhere. I think this is what Instagram was going for with Threads and it might be one reason why people should be asking "whatever happened to Threads?" but they don't because they've forgotten all about it.