Book burnings were hardly exclusive to the Nazis. They just showed us how it can be part of the progress to something much bigger and uglier than ever imagined. And I have to disagree on your cigarette analogy. This is so much bigger than regulation of advertising. This is about using the platforms to enforce censorship of anybody you deem offensive. This is not the same thing at all.
It's actually less severe than restriction on advertising, since it's the voluntary decision of a private media entity, not a government enforced restriction on published content. (Under pressure from another content provider, Neil Young)
It is much smaller than restriction on advertising.