The Supreme Court punted in a most cowardly way on that case. Based on the facts — and there were lots of them — this was about as textbook an example of government censorship as you'll ever find. Reading Fauci's deposition alone should make you furious. The merits of the case were not argued at the Supreme Court level, nor were they what the Court based its ruling on.
BTW, the Twitter Files that were dismissed in a lot of circles as a nothingburger also laid this out in detail. Those got the ball rolling, and the legal process in Murthy v. Missouri confirmed all of it.
The standing issue was a technicality that allowed the Court to back away from making a decision.
Basically, because the government used those NGOs and social media platforms to do their dirty work, they said the government hadn't actually infringed upon free speech. The Court said it was the NGOs and social media platforms doing it. Therefore, the plaintiffs (who included more than 20 states attorneys general, IIRC) had no standing to sue the government because there was no one in the government making the final decision.
It was absurd logic based on the facts of the case.
Alito wrote in his dissent that the decision "permits the successful campaign of coercion in this case to stand as an attractive model for future officials who want to control what the people say, hear, and think."
So if Trump does indeed try to squash free speech, maybe you can thank Joe Biden for providing the road map on how to do it.
And, yes, any time any administration goes down this road it's worrisome, even if you've voted for the side doing it.