It is decentralized, though, as no one can deplatform you from Hive. Speech, however, can be restricted on Hive as you can lose your reach if you get heavily downvoted and your reputation destroyed, putting you in a blacklist where people have to click to see your posts, which by the way a see myself doing often to see some of your content.
It certainly doesn't match the censorship we see on X, youtube, TikTok, and Instagram. But you are right to call it a form of censorship when we should have none of that here. There is a system of governance on Hive, though. You can vote against this kind of censorship.
RE: Judging Period Week 16: MemeHive Theme Curation Contest