As crazy as Alex Jones is, this ban was for Dorsey to cover his ass in a way the other social media "platforms" did not with their "hate speech" reasoning. Big issue, there is no such thing as hate speech legally. As platforms they can remove content that breaks the law, not something that doesn't.
They've been skirting a line with certain content under the agreement this kind of stuff is no bueno. This is just one of many overreaches from these companies where they are operating as publishers and not platforms.
This has nothing to do with the 1st amendment, and has everything to do with defamation law. Social media platforms are exempt from such tort, but beyond the illegal are supposed to not moderate content. Defamation suits(like the lawsuits filed by Sandy Hook families of survivors against Jones, are thus handled individual to individual.
But independent of Jones, actions like shadowbanning, withholding verification(checkmarks and the like), and more of conservative content is fmpov going to lead to their exemption being revoked and these companies being opened up to defamation tort for the content posted on their respective sites.