If I sue you and lose, you're out the cost of your defense. You'd have to sue me for your expenses. While an attorney might take the suit on contingency you're guaranteed to win and unlikely to recoup all of your original expenses even if you do.
Frivolous lawsuits are not in any was a boogeyman. One need look no further than bullshit DMCA takedowns and bullshit patent suits filed in East Texas to see the model for frivolous lawsuits with a Section 230 repeal.
They certainly were in the 90's and 2000's. This lawsuit[1] became a talking point against "frivolous lawsuits", and ammo in a PR war for tort reform[2] in the US.
[1] https://en.wikipedia.org/wiki/Liebeck_v._McDonald%27s_Restau...
[2] https://en.wikipedia.org/wiki/Tort_reform#Frivolous_lawsuits