No — it’s not quite the same. But if you systematically demonetise any content you don’t like, in the long term it
does amount to a form of censorship.
It’s as if a government said ‘we’ll tax you 1000% if you criticise us on social media’. You’d still get some bozos online saying ‘it’s not censorship; people are free to speak’ because you’re not directly prevented from speaking. But you can imagine the effect it would have.