They seem to only be watching the questions right now. You’re automatically prevented from deleting an accepted answer, but if you answered your own question (maybe because SO was useless for certain niche questions a decade ago so you kept digging and found your own solution), you can unaccept your answer first and then delete it.

I got a 30 day ban for “defacing” a few of my 10+ year old questions after moderators promptly reverted the edits. But they seem to have missed where I unaccepted and deleted my answers, even as they hang out in an undeletable state (showing up red for me and hidden for others).

And comments, which are a key part to properly understanding a lot of almost-correct answers, don’t seem to be afforded revision history or to have deletes noticed by moderators.

So it seems like you can still delete a bunch of your content, just not the questions. Do with that what you will.