Things get a little weirder when they're mass media. A lot changed when the 'fairness doctrine' got thrown away… essentially you're arguing that adversarial powers should get to run mass propaganda operations with all the technological means we've learned, on the grounds it's 'speech'.

No citizen has comparable power to influence (and hide their tracks/sources) no matter how manically they post. It's rapidly becoming 'giant computer farms full of AI following scripts' and that still counts as 'speech', but rather than an individual's opinions it's targeted influence operations towards indirect goals.

It can be as close to 'crying fire in a crowded theater' as you like, except it's methods to coordinate teams of people all crying fire, knowing there's no fire, but intending to cause a mass casualty event through their actions.

Speech?