I don't understand the distinction. If you are on a tech-oriented forum and post some celebrity news with no tech angle and the mods remove it, is that censorship?
After reading Yishan's post this morning. I've been convinced to believe the same as GP. Censorship is about content; moderation is about behavior. These are orthogonal concepts and for reasons related to mod/user framing, not always distinguishable.
The hypothetical is too reductive to be helpful in making that decision. There are other datapoints and social framing that would be needed to answer your question. As it stands, it's like having one equation and ten unknowns and asking what the solution is - it depends.
Moderation is about how things are said.
They are not mutually exclusive.