The distinction is between perfectly legal speech, and specific acts fraud or things that are direct, actionable, and credible threats to physical safety (e.g., bomb threats). This isn't a complicated blah blah, where we need a technocratic meta-god to put his thumb on the scales. The existing legal pre-computer legal frameworks cover these cases.
> Either you believe in an open internet or you don't. Either you're with us, or you're against us.