As much as I dislike YouTube’s policies in general, I find it difficult to argue against their current actions simply because powerful entities are already abusing the system behind the scenes to moderate content themselves.
I'd argue that the nature of the business should factor into it as well. Since Youtube advertises and presents itself as a platform where any user can upload any kind of content excluding pornography and dark stuff (eg. animal abuse), I don't think that censoring on the basis of political views alone is justified (I'm not familiar with David Icke, so I can't speak for this specific incident).
YouTube is pretty clear about their stance on what is and is not allowed. They have made it very clear, in particular, that coronavirus misinformation is not allowed. I see little difference between choosing to censor pornography and choosing to censor coronavirus misinformation. Both are protected speech in the USA but they are both also things that are allowed (and is reasonable to) censor if the platform wishes.
Are you saying that the size of the company factors into what policies it can enforce? i.e., smaller companies can have more freedom in policing content, but if an undefined critical mass is reached (perhaps market share), they should have less flexibility on curated content?
Or is it a factor of what it's trying to build? e.g., if YouTube only focused on hosting political content, should they be allowed to censor that content or shape what is permitted?