Yes, and right now they are looking for a way to extract themselves or be able to overpower the issue. They are currently locked into it though, they cannot simply suddenly switch to siding with the other side because the voters of the other side rabidly hate them and the politicians actively want revenge. So flipping sides isn't an option. They cannot move to the center and try to be neutral, because they linked themselves too deeply to the Democratic apparatus and any attempt to would see them torn down and destroyed by the left.
If I might hazard some speculation. I believe I can guess what will happen. Assuming Trump wins 2024, they will begin making overtures to Trump under the table. Publically going along with the left's apoplexy but seeking to find out exactly what he wants and what they can give to avoid total destruction. Depending on what they have to use, they could skip-free with only a minor revision of 230, or be torn apart. Trump doesn't want to personally destroy big Tech since they didn't really stab him in the back, so much as stab him in the front. So if they seek to continue existing, making a deal with the Trumpian Devil is their best bet.
This is definitely the route Facebook is going for, and why they keep trying to straddle the lien just well enough to avoid being destroyed by the left till they can do it.