The problem with that is who gets to decide what is a lie or who is inciting violence. You have courts for that and a legal process.
Freedom of speech should not be regulated. You don’t like what is being said tune in to another channel.
For the millionth time, some of you have a deep misconception of freedom of speech entails. The
only entity that can curtail your freedom of speech is the government; it is not a private company like Twitter.
For example, if the KKK or a Neo-Nazi group applies for a permit to hold a rally, the government cannot deny them due to their views. And if you do a little research, you'll find several instances where such permits were granted to such groups to protest. Similarly, in my general neighborhood lately someone dropped anti-Semitic flyers. But because no specific threats were directed at anyone, those flyers are perfectly legal so anyone that called the police because of the flyers has no recourse.
Private companies have leeway on what content they can allow on their own platforms. Even the social platforms where racist content is easily found, like Gab and Parler,
have content moderation. The more lenient platforms also ban people.
Despite Musk's assertion that Twitter is some sort of public square, it is far from that. Lately, when several people either imitated or made fun of Musk, what did he do? He banned them and undermined his own argument about the public sphere nature of Twitter (although some of them have since been reactivated, but the salient point is that he banned them in the first place). So by that measure, Twitter banning (or reinstating) Trump isn't some curtailing of Trump's rights. No one is owed an inalienable right to post on any social media site. If you violate their TOS, they are fully within their right to ban and you're shit out of luck about it.