You beat me to it.

I'd emphasize that the scummiest sites with zero moderation never needed Section 230! Section 230 is what allows you to have some moderation (e.g. banning spammers) without suddenly becoming entirely liable for anything that passes the filter.

Blindly reverting Section 230 means eliminating that moderate position, splintering sites into:

1. Ones that abandon moderation entirely in favor of chaos. Maybe you can salvage something by giving opt-in filtering tools to individuals, but you'll still have the problem of someone using your site to store ten terabytes of the Bee Movie.

2. Ones that demand participants sign a serious legal document promising to pay for any problems before they can submit anything.

3. Ones which remove almost all expressive ability, beyond narrow things like like/upvote features.