I agree that there are unfortunately stupid people that this will make them strengthen their misconceptions. But IMO there are more stupid people who are going find legitimacy in reading such views in FB and mainstream media and that such legitimacy always translates to physical violence.
To me this looks more like "I'm going to censor only what my rivals say". Do you think they'll remove content that says "white people <insert stereotype here>"?
This is stupid no matter how you look at it. You can't censor. You cannot fight stupidity with more stupidity. And please, don't say again that stereotypes can end up with millions dead. What happened in the nazi Germany goes beyond that. You can't just synthesize hundreds of years of religious and ethnic problems into "stereotypes".
For a small glimpse, read:
https://en.wikipedia.org/wiki/Economic_antisemitism#20th-cen...
https://en.wikipedia.org/wiki/Timeline_of_antisemitism_in_th...
Also while I can't quantify the stereotype's influence and subsequent effects on political bias, Islam antisemitism, etc., I believe it is as meaningful as it was in Nazi Germany and the death count could easily increase.
https://en.wikipedia.org/wiki/Economic_antisemitism#Nazi_Ger...
If you find more alarming a stereotype than censorship, you have a real problem. Actually we all have a problem.
If you're that worried about stereotypes, you should know that censoring them makes them true in the eyes of the people. Or do you think that people who are stupid enough to hate other because some stereotypes will change their minds once they see they can no longer talk about it?