Perhaps it would, but there are plenty of other restrictions on freedom of speech. And this particular law does not apply to news media etc, as far as I understand - just search engines and similar databases.
Sure, of course there are and should be reasonable restrictions (shouting fire in a crowded theater causing immediate danger, for example). But is this a restriction that society should accept? How could you expect to have a functioning democracy if a politician could make people "forget" to stop them from sharing any inconvenient facts about the politician's past actions?
And perhaps I want to make a list of sources where you can search for information about politicians to hold them accountable. If it's not censorship for them to be able to stop me from linking to true things they don't want people to see about them, then what is?
And perhaps I want to make a list of sources where you can search for information about politicians to hold them accountable. If it's not censorship for them to be able to stop me from linking to true things they don't want people to see about them, then what is?