"They also appeared to be funding reports to justify it."
The "human rights analyses" they use to justify it substantially underplay the potential harmfulness of it.
One of the most glaring parts of it, apart from just being very underwhelming, is that it assumes that these platforms are well-behaved actors (and not actors who overwhelmingly act on frivolous grounds). They're not.
It fails to properly challenge these platforms, indeed, it doesn't seem to operate from that angle at all.
As mentioned before, there are also questions of due process, freedom of expression, and privacy. A cartel means that stupid ideas (or systemic bias / mistakes) have a tendency of being amplified.
That is my "human rights analysis" from a more critical angle.