Earlier quoted context omitted.
The question that we need to ask is "Will unlimited lies kill us faster than unlimited truth". If we can avoid global warfare with unlimited truth/lies then what we are doing is fine. If we cannot, then openness is a dead end. Democracy will vote in authoritarian leaders to attempt to overcome the ocean of lies and bullshit and we will destroy ourselves.
I don’t understand that question. What system can distinguish lies from truth better than each person for themselves? To me, the question is more freedom of speech or less freedom of speech. At best retaining the existing restrictions would have a neutral impact on both, and likely would restrict the truth more than lies. After all, the truth is often more quiet than a lie.
The average person has effectively zero ability to distinguish truth from lies, in my experience. They simply go with either whatever they heard first or whatever fits their prejudices. So, I'd say that almost _any_ system of genuinely unbiased fact-checking would improve the outcome.