[nybble41]

Even if that were "Government is (in practice) elected by people, counter balanced by court", it wouldn't be enough. The people electing the government do not have the right to use force to coerce other people (the owners & operators of Facebook in this case) into censoring content. A government or other representative elected by the people has no rights beyond those possessed by the people who voted for it—one cannot delegate rights one does not possess. And the courts are themselves part of the government. It's good to have some form of internal controls (self-regulation) to keep the other branches of government in check, but one arm of the government cannot be the sole and final arbiter of whether another arm of the same government is acting justly.

Facebook is accountable to its users. It may not have much serious competition now, but there are myriad potential alternatives which could fulfill the same function, just as Facebook replaced its predecessors (most notably MySpace). Network effects are strong while they last, but notoriously fickle.