Most of the developed world has either hate speech laws or at least stricter speech laws than the US. The US is an anomaly in this regard. I do believe that many countries abuse hate speech laws and take them or their application too far, but there are many countries that have them and consistently rank above the US in many freedom indices by multiple metrics. For example, this is the ranking for internet freedom from Freedom House:
Freedom House assesses the level of internet freedom in 72 countries around the world through its annual Freedom on the Net report. Click on a country name below to access the full country narrative report.
freedomhouse.org
All of the countries that rank above the US both for internet freedom and overall freedom per the above index have stricter speech laws than the US, and most of them have hate speech laws (especially for extreme cases like Nazi speech).
I can see solid arguments against hate speech laws, especially given how they can sometimes be abused to suppress speech that is inconvenient to political powers. I'm still of the belief that they're a net positive if implemented and delineated properly, though.