I think it's great. People will look at Fox News and think 'thank god,' but as a Canadian, I'm glad we have more stringent restrictions on reckless forms of speech (hate/inciting genocide, fake news, etc). Further, I cannot recount a time when I've seen someone's speech restricted in a way I thought was improper.
Yes, it is possible for a power to be abused. I don't agree with not granting the power though. But I think it's fundamentally a 'trust in government' thing (which Americans sadly have little of).