If you think this development has anything to do with free speech, you're an idiot.
Free speech means that the government and it's policing cannot harm you for things you say. The government has not done that. Facebook says he violated their TOS, and from the best I can see, he did that for months. They warned him, continued to let it go for a very long time, and then banned.
Alex Jones is free to run to the town square, get a bullhorn, and start yelling about chemtrails, fluoride, how Obama was born in Africa, and how Sandy Hook was a setup; grieving parents are paid actors, and the FBI conspired to cover the whole thing up. He's completely free to do that, and when he does, I'd like to show up.
This isn't about free speech. He violated TOS, and he didn't just do it once. He did it for months, ignoring warnings that his account was in peril. Well, now his account has been deleted, finally.