Two possible outcomes.
Option 1) The judges actually follow the laws as they are typically written and applied and side with social media and allow them to actually moderate their content for violations of their terms of service.
Option 2) The judges failed to do their job and try and rule that the companies can't moderate their stuff even if the stuff violates their terms of service or the law in this case as the stuff they were moderating were inciting violence and either such stuff. At which point these companies pull out of Texas or have a "Texas Only" version of their sites which will be completely un-moderated to the point it makes the old 4chan seem tame by comparison and if they rule that they aren't allowed to moderate for actual threats and other violations of the law that also prevents them from moderating other content turning into a potential haven for kiddy porn as the moderators will not be allowed to stop it.
But there is no option where the judges side with Texas and the companies just open up as that would have them running afoul of laws in other states that prevent such blatant acts which makes those terms of service requirements pretty mandatory if they ever wanted to remain in business to begin with.