Listened to an interesting debate on this topic
https://opentodebate.org/debate/mock-trial-murthy-v-missouri...
The first debater said it was okay because the companies complied voluntarily. I found myself at first nodding along.
Then, at least for me, after hearing more arguments I was like, "okay, she's basically saying if President Trump calls Musk and says (please censor anything pro-Biden)" that's fine as long as there's no "or else". To me it seemed wrong for that to be ok.
The other debater also pointed out that even if there was no explicit "or else" the twitter files made it clear the people there thought there was an implicit "or else".
It's a hard problem.