The problem is who arbitrates which speech is good. If you look back at history there are many examples of speech that was suppressed because it was considered blasphemous or immoral only to later become orthodoxy. I think we are better off focusing our efforts on building back trust in journalism and teaching and empowering people to be skeptical and good critical thinkers. I do not think repression is going to work.
I don't think any future generations would look back at conspiring to hang lawmakers out in public as some orthodoxy that we were wrong to see as immoral.
I too thought the same, but because I like empirics, I went out and tested it.
Repression works.
You make a few assumptions here, which are important to examine.
First, it was centralized power of the church, which was fighting facts that were not in congruences with their beliefs. However, today the positions are reversed, it is faith in unreal outcomes that is asking for credibility at the same level as facts.
The people who stormed America's highest houses were there because they believed that an election wasn't fair. Nothing will convince them otherwise, no matter what the evidence.
This is the essence of faith, and exactly why free speech exists. To allow human beings to be governed by reason over unreason or emotion.
Secondly - we know for a fact, that emotion is the fastest way to co-opt logic. You can take a look at politics at home or around the world for evidence - wedge issues win, logic doesn't.
If you aren't going to exert a force to counter emotional manipulation, then your people will be emotionally manipulated. They will be manipulated the hardest, by those who find that certain facts don't work for them.
Finally - Journalism is failing because of other reasons than trust. It was an unviable market a while back. Their last source of income was the classifieds, and craigslist alone put an end to that.
Journalism which is beholden to advertising will always have to compete with entertainment. Meaning that if its not more entertaining than a sports channel, advertising money will simply go elsewhere.
I can only see independent, government or public founded journalism as the solution.