The law does not refer to vague "hate speech" (or a translation thereof) or extends any definition of illegal content. Instead it lists specific types of content for which there is decades of legal precedents. It extends the liability of platforms (which makes them more eager to delete borderline cases) but does not change anything about the legality of content itself.

(FWIW, I see many problems with that law and it should never have passed but there is so much misinformation being spread that it gets tiring to correct.)