Not really. What constitutes free speech is always qualified, so that's a fantastical argument. In this case, Poland has blasphemy laws (and btw, even Strasbourg allows for these under the margin of appreciation).
In principle, this move shifts decisions from private global corporate power brokers to national representative government. Facebook and Twitter are private, but they've become so powerful and influential that they function like utilities used for communication. It is better to subject these platforms to laws that can be checked by representative government than to the whims of tech oligarchs.
It's still hypocritical to peddle this bill as "protecting freedom of speech" when it is in fact about "who defines what speech deserves freedom".
Unsurprisingly the "who" above is the proponents of the bill and, as the OP notes, they don't exactly have a track record of protecting free speech which makes it even more hypocritical.
In principle, this move shifts decisions from private global corporate power brokers to national representative government. Facebook and Twitter are private, but they've become so powerful and influential that they function like utilities used for communication. It is better to subject these platforms to laws that can be checked by representative government than to the whims of tech oligarchs.