I feel like you've replied to the wrong comment - I'm not defending copyright infringement, misuse of celebrity likeness, or the content of this video.

I'm specifically addressing the notion that the government would carve out a free-speech exception for "deepfakes", like "deep fakes of Politicians / Celebrities are illegal." Which would be clearly unconstitutional, because you are forbidding creation of a creative, expressive work.

Whether the works that you are free to create, regardless of format (photoshopped image, deepfaked video), violate some other law - libel/slander - is separate as well. Yes, they certainly could, just like a photoshopped image today could be libelous.