Censorship, beyond what’s required by law, is doomed to fail.
So you can lose credibility two ways, one by not doing any censorship because people on the internet will be the worst if you let them. Doing too much censorship is also bad because people don't like that either. Of the big causes of censorship currently, I think of things like youtubes copyright claim process and how that is routinely used as a censorship backdoor by anyone - including the police. Sometimes its not even for any good reason and done by unthinking bots. This is banning more perfectly fine content than anything the government has done. I don't understand why there isn't more pushback against that process to punish people for frivolous claims.
If you're saying "we must censor abhorrent viewpoints for the good of society", I'll just counter that your viewpoints are horrible and must be suppressed, while mine are good and must be amplified. For the good of society.
Now build a Facebook and get enough users to rally to your cause, and your opinion on suppression / amplification will have some weight to throw around.
People seem to forget that Facebook is where it is because users keep showing up, and users keep showing up because the censorship gives them something they want. It's a feedback loop.