Of *course* it's our place to make subjective editorial decisions on whether or not content is appropriate - where appropriate is a broadly-defined mixture of "acceptable", "useful", "well-placed", etc etc. We do it all the time, as a community and as individuals or ad-hoc groups. There's no 'Big Book of Encyclopedic Merit' we refer back to...
We don't use those measures to decide, though. We use verifiability (which is pretty objective) and notability (which is not, but appears to be pretty much unavoidable if we want to be realistic). Censorship is clearly subjective and avoidable, so should be avoided.