From an ethical perspective? You'd be hard pressed to argue that point.
Normalization of ridiculous rhetoric like calling LGBT folks groomers is leading towards more and more hate crimes towards those people, as well as helping push for regulations against adults being able to opt into their own health care and make decisions about their bodies[0].
[0] https://abcnews.go.com/US/new-bill-ban-gender-confirming-car...
Society as a whole, via the sort of discourse that we're having now.
Freedom of speech comes with other people having the right/responsibility to also have freedom of association and reject the sort of speech that is found to be intolerable.
Note that in this specific instance, it is not a case of legally unavailable speech, but a case which is more likely to result in ostracism of those who use it - which is the system working as intended.