No, it's not designed to insult muslims. This is a completely mistaken impression.

Given that you have that impression, I understand why you reacted the way you did, but your impression is incorrect.

It's like saying that when I use a gun to defend my house from a burglar wearing a red hat, that my aim is to kill people with red hats. Completely missing the point.

The aim of this movement is to defend free speech (my house) from extremists (burglars) not people who happen to be muslim (wear red hats).