Exactly. They are also basically saying you don't need to moderate most illicit activity (if it's an unmoderated format) but you essentially can't operate such

Exactly. They are also basically saying you don't need to moderate most illicit activity (if it's an unmoderated format) but you essentially can't operate such a platform in a form where it is "unmoderateable"/untraceable because you should be liable for any unlawful content that goes up, and for the the fact that you facilitated it.