The core is 4a, replace vague terminology. The point is to end 230 unless social media is compelled to reproduce right wing content. Nothing else. The other stuff about illegal material doesn't really matter.
Why this? Because this is all right wing media talks about with respect to 230. They want social media punished for removing their material. They publish their vicious lies which are removed by the website. Then they loudly proclaim the constitution is the reason.
So we can see through the politics. The rest of the proposed bill is fluff. The part that matters is the compelled speech.
So we have this: "Publish our lies or you are liable for all other user content that might be illegal."