Is there any indication or reason why they would want to block LGBTQ+ content? Haven't both companies been very vocal supporters of LGBTQ+ in the past?

It's like those game companies, that support lgbt and donate to gay mental health foundations, but will block you when you mention some gay words in chat, because they are child friendly. I always found the hypocrisy funny. Then their auto-translate feature will routinely consistently swap pronouns to opposite.

Companies are not moral entities. They will go whichever way the wind blows. Right now it's more profitable and avoid being singled out by the current US admin to not vocally support LGBT. We saw this during pride month this year where most major companies either pulled their support or were not vocal at all. We've seen plenty of companies drop "DEI" policies to curry favor with the admin as well.

If a group this small can get Visa/Mastercard to hand out ultimatums, then it's not that far of a jump for the same group or another who is against LGBT to recontextualize LGBT as something sexual or something targeting children. We've already seen this rhetoric from the current admin.