Hanson's tweet wasn't covered by official speech rights because it had nothing to do with what Faruqi wrote about the late Queen and everything to do with her background. If Hanson had mentioned reparations, colonialism, treaties with First Nations, or the republic, then her argument of protected political speech may have had more merit. This ruling sets a positive precedent: hate speech is not free speech.
While Hanson's tweet could certainly be seen as insulting, the fact that she's the only one facing punishment is hypocritical at best. Australians should be allowed to offend one another no matter the subject, and even if they're banned from doing so, it will only fuel further racial discord. Choosing which racial groups get to offend one another is deeply concerning.