You cannot chose to ignore the bans on expletives on broadcast media. You cannot choose to see advertising that is prohibited. To the extent you think you can, you can also consume the forbidden “terrorist” videos at places other than youTube.
And note that the flagging system as it currently exists is not mandatory. YouTube may deal with the flags as they see fit. The government is merely voicing their position and expressing their interests in a non-mandatory manner. Nothing is being forced on society, nor is society being forcibly deprived of anything.
I’m asking you whether you would object if the government passed a law that required youTube to comply with their flagging demands. This would make the government actions certainly as legal as banning expletives on public airwaves or prohibiting various forms of advertisement.
