The lawsuit actually reads like a Legal fever dream, get this, they postulate that the entire internet should be American sovereignty, that all countries should be forced to follow American law, that 1776 happened.
In reality, what 4chan and kiwi farms are upset about is either instituting the UK laws, or being cut off from the UK users, who still are a decent chunk of the English-speaking world along with it setting a president that nations can enforce their own laws in their own countries when it comes to the internet