Yes, Internet companies will have to go to court more. That's a good thing. It means there will be more actual legal precedent around how content should be handled, and it will mean companies will be more careful about doing things that are legally defensible, rather than solely focusing on what's profitable.
Donald Trump was elected President because sensationalism and radicalization drives engagement, and hence, ad impressions. The waves of mass shootings from incels and other radical right weirdos is on Section 230s head. And every single tech industry funded outfit defending it has blood on their hands because of it.
All of these amicus brief defenses come down to "we're afraid we might get sued", and if that's the case, maybe companies should rethink how they operate. Contrary to the positions of Mike Masnick and his ilk, US law isn't arbitrarily and capriciously going to attack anyone who's comment box gets spammed one day. Intent is a core part of law, and you need it to find someone responsible for most wrongdoing.
Tech companies have ill intent. They've chosen profit over responsibility, because the immunity granted by Section 230 makes that decision too easy. The current Supreme Court is awful and will do a lot of awful things, but stomping down Section 230 with absolute indiscretion will not be one of those awful things.
Kinda a sidebar, but I always love to see who actually is behind these sorts of things: The law firm behind this brief, Cooley LLP, appears to be a business entirely focused around things awful for consumers: Mergers and acquisitions, private equity firms, defense against shareholder litigation, protecting healthcare companies from regulatory investigations, and filing patent infringement lawsuits. They are quite proud of all of this on their home page. Wikimedia picked great friends here.