Oh I agree, it doesn't apply to this particular case but it is the textbook definition of a reasonable limit on free speech. The poster I was replying to seemed to be under the impression that the first amendment protected all forms of speech. As you said, the courts have carved out many exceptions to the first amendment.
Except it’s not the textbook definition. Shouting fire in a crowded theater is protected by the 1st amendment, and the case where the phrase was coined has been replaced by better 1st amendment tests for whether speech can be punished by the government.