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That's just plain not true. There's a long history defining the exact role of the media in relation to free speech, and the conversation does not end at "media can print what it wants."
There's an entire subfield of journalistic ethics about this relation, and how the media has a responsiblity to protect free speech, even WITHIN the media itself , because the media has a role in how ideas get shared. A personal website in this regard is very different then a discussion board, as the latter serves a similar purpose of allowing discourse. As reductio ad absurdem of your definition of free speech, imagine someone in Iran saying "The Iranian people have the right to free speech - just not within the country". Even though it's technically true, it still doesn't say anything about the EFFECT of the restriction of speech on discourse (which is the purpose of free speech in the first place).
LW exist for allowing discourse to refine the art of rationality. It's purpose is not that everybody can share whatever is on his mind.
Editorial and moderation choices are going to be directed by that goal. It's different than a medium like facebook that exist for everybody to share anything.
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