It defines "objectionable" content with CSAM as the first category, and then a number of other categories that would be First Amendment protected speech in the US. Possession alone carries a 10 year prison sentence, possession with intent to distribute is 14 years. The Christchurch shooting video and manifesto were both classified as objectionable by New Zealand's Chief Censor (I'm not joking, that's actually their job title) [1].
My point was that they are prosecuting people for political and journalistic speech under the same law they use for CSAM, with equally severe penalties. Hope that is a more clear explanation.
[0] - https://www.legislation.govt.nz/act/public/1993/0094/latest/...
[1] - https://www.classificationoffice.govt.nz/news/news-items/res...