Perhaps the argument that could be made is that the US does not place limitations on speech (for now, the current government seems intent on changing that). But, as far as I can tell, engaging with the US economy indirectly funds the genocide in Gaza and other abhorrent actions by the US government. I have trouble seeing it as any more than "they're the bad team and we obviously must be the good team".
Saudi Arabia wouldn't even be in a position to host such an event if the US hadn't spent decades buying their oil. Most Americans have historically supported the Saudi regime financially just by going to the gas station.
The phrase "money talks" originated in the US in the 1930s. Americans have largely lived by that mantra since WW2, using economic force to shape the world as they see fit, sometimes resulting in incredible harm to others globally.
One can't have their cake and eat it too I'm afraid.
Finally, while Saudi Arabia is not a perfect nation (I'd like to see which nation is) having progressive voices (relative to the cultural standard there) be amplified is a benefit to humanity. This is how minds are changed. Through stories from different perspectives. Through art. No nation, no people are so far lost that they are beyond conversation. That's would be a level of dehumanization that'd call into question our own humanity.