Same principle. I wouldn't advise wasting library funds on creationist textbooks, and I would recommend removing factually-inaccurate items from the non-fiction section.
But books are still a better place to hedge against the possibility that my idea-quality-metric is seriously broken, as a matter of economics. I'd still prioritize good ideas over terrible in book acquisition, but with an added component for diversity as judged by my quality metric (aiming for a long-tail distribution as judged by my personal idea-quality metric, for example). You can have many-more books than faculty, so this is a good, economically-efficient way to purchase idea diversity without wasting your very-limited-resource of faculty spots.
Throwing out books has cost (in time and effort to judge quality), so I'd only throw out terrible books if there was some constraint on shelf space or something (and then I'd rather sell or give away than simply toss).
I don't think that the principle is the same. "Book existing in a library" isn't a privileged position like "tenured faculty" or "column in a major newspaper" or "book promoted by a major publisher."
Related: Heuristics for Evaluating the Soundness of the Academic Mainstream, Admitting to Bias, The Ideological Turing Test