That may be a good compromise, though it does provoke the question as to how public a figure one must be before one waives the right to not have malice directed at them.
I think my main qualm is that well meaning laws can often set a precedent for unforseen issues down the road, and the curtailment of any liberty, no matter how vile that liberty is, must be done with care to avoid creating traps for the future. Something UK politicians are famous for failing to do (our digital safety laws are very much responsible for our lack of privacy, and have created some of the most dangerous data troves on the planet!).