“Try as it can, the FCC’s jurisdiction would only apply to networks and servers and sites hosted within US borders, right?”
Wrong, because the foreign servers can be monitored for content and their IP addresses can then be filtered out at the intermediate domestic routers responsible for forwarding the IP packets. The end result would be monitoring and censoring of foreign located servers who are then unable to deliver IP packets to domestic American clients.
Then they would be no better than China, and in effect, squander their moral credibility. Whatever ways that system can be gotten around, I’m all for them.