I agree, drowning out normal voices in fake news and bots is as much censorship as banning them outright - it is just a form of censorship that (some) free speech advocates are complicit with.
But the biggest issue in my mind is that fake news, misinformation and bot bullying makes social media money, so they are never going to stop it.
And I agree that this is exactly the problem - winners are who have more energy and opportunity to speak. "Drowning the voices" as you pointed out.
But, how to determine which voice is normal?
Per your suspicion that fake news and misinformation make money, fact checking is alleged to make money to Facebook and fact-checking Facebook affiliates. The links on fact checking materials divert viewers from one arrticles to other and increase clicks and retention at Facebook.
Yes, you are right again - misinformation may bring money to FB, at the very least, when FB tries to fight it. I guess it is a nature of capitalism, to try to make money out of everything.
But the biggest issue in my mind is that fake news, misinformation and bot bullying makes social media money, so they are never going to stop it.