Guh. I really wish conservatives - and Jordan Peterson - would learn the actual meaning of censorship.
Facebook, twitter, the Ontario College of Psychology... a Lemmy instance is a private body. They can make whatever rules they like. If their rules say you can't say homophobic/hateful/racist things and you do so, they can do whatever they like. Don't like it? tuff beans, go make your own Facebook for racists and phobes.
All our freedom of speech, freedom of expression means in this country is the government can't persecute you for your (dumb or critical) opinions. But you only have limited ability to spew your opinions in public where others can't opt-out, you can't espouse your opinions where they incite hatred and violence against others (in a fashion/context where actual persecution and violence as a result is credible) and you do not have a god-given right to spew your opinions in a private forum that chooses not to tolerate them.