It was banned because it didn't follow court orders to remove illegal content from it's platform, yes. Whether the content was rightfully illegal, I don't know because I didn't see it, one side claims that it "was critical of the government" the other side claims that it "was inciting hate and violence".

Now I hope that we can agree that there are valid reasons to remove and ban online content, and from the news I hear about Twitter since it was bought by Musk I think the content was rightfully banned. Just knowing that Musk was against the ban is enough for me to believe so.