Really bad.
The PayPal agreement (emphasis mine):
Violation of this Acceptable Use Policy constitutes a violation of the PayPal User Agreement and may subject you to damages, including liquidated damages of $2,500.00 U.S. dollars per violation, which may be debited directly from your PayPal account(s) as outlined in the User Agreement
involve the sending, posting, or publication of any messages, content, or materials that, in PayPal’s sole discretion, (a) are harmful, obscene, harassing, or objectionable, (b) depict or appear to depict nudity, sexual or other intimate activities, (c) depict or promote illegal drug use, (d) depict or promote violence,  criminal activity, cruelty, or self-harm (e) depict, promote, or incite hatred or discrimination of protected groups or of individuals or groups based on protected characteristics (e.g. race, religion, gender or gender identity, sexual orientation, etc.) (f) present a risk to user safety or wellbeing, (g) are fraudulent, promote misinformation, or are unlawful, (h) infringe the privacy, intellectual property rights, or other proprietary rights of any party, or (i) are otherwise unfit for publication
If you're curious, you can read the other 5 points and realize why centralized payment services are awful - https://www.paypalobjects.com/marketing/ua/pdf/US/en/acceptableuse-full-110322.pdf

That DailyWire article has more information on recent censorships ("deplatforming"). It's really getting bad out there in big tech land.
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For additional comments, see also another post, found here on SN, which shared the article that Saifedean references:
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Lol I guess a preview of CBDC land
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Yes. Likely PayPal cooperates with Paxful for developing a project related to CBDC.
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A step in the wrong direction imo
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