I don't think liability protections will fully fade away from America as far as the Internet is concerned.
To me this seems like a push for that Digital Bill of Rights that Trump proposed during his election campaign where Trump's version of the Internet is basically Section 230 but discourages Big Tech from doing any censoring, bans warrantless takedowns of Internet content by the government, and forcing all platforms operating in America to take down illegal content where if said platforms fulfill this criteria then they may still keep their liability protections.
I don't think Section 230 is going to fully go away and it will stay in some form or another but I think this may be taken to a back seat because Congress is still way too divided to do anything meaningful at the moment.
Although if Congress does want to go through with this, chances are Big Tech is going to interfere because Big Tech (and the rest of the Internet) loves Section 230.
So I imagine the tech companies and tech lobbyists will try to strike a deal with Congress that satisfies everyone.