I respectfully disagree.
ETA: Sunlight isn't actually a disinfectant here. If it was, moderation-lite platforms wouldn't be full of fascist trash.
What actually happens is this: 1. Someone makes a moderation-lite platform in response to censorship on mainstream platforms 2. Thousands of awful people flock to the platform, along with two or three principled free speech advocates. Most normal people avoid it because they don't realistically need to worry about being banned from mainstream platforms and they don't want to deal with fascists. (Besides, the racist trolls aren't actually interested in open and respectful discourse. That's a lie.)