When we decided that freedom of speech was a core freedom, and the wealthiest people own the biggest megaphones. Musk's Twitter is just a reflection of the same system that protects the Murdochs, Chatham Asset Management, etc. The bar for "this speech is illegal" is extremely high in most first-world countries, at least unless your disinformation can be shown to harm important corporations (fraud) or rich people with really really good lawyers (defamation) or the justice system itself (perjury, filing false reports), it's basically impossible to fight. This weakness of the justice system was why everybody was happy to see amoral corporations like Twitter taking up the project pre-Musk.

Remember, the only people who managed to extract consequences for The Big Lie from the above organizations is Dominion Voting Systems, a huge corporation that could show damages.

As long as the facts of our shared reality are considered beneath protection unless they coincide with the financial interests of VIPs, shitty people with big megaphones will lie with impunity.