It never was. It's freedom of speech without having to fear governmental penalties, broadly speaking. Several categories like incitement, false advertising and CSAM should not be acceptable "speech".
The ego of an Australian regulator that thought they could tell an American company what they could or could not distribute to non-Australians must be huge. (To clarify, twitter had blocked the video for Australians)
I know the US has a reputation for thinking it's laws apply everywhere but this is on a whole new level
"option likely to achieve the most positive outcome for the online safety of all Australians, especially children."