So. To the practitioner, or to the internet tough-talker, what does this mean? It means that the law of the land, at least 7-2, is that a threat is only outside the protection of the First Amendment if:
A reasonable person, familiar with the context, would interpret the threat as a sincere statement of intent to do harm, and
The speaker was reckless about whether the threat would be taken sincerely — that is, they “consciously disregarded a substantial risk” that it would be taken seriously.
If I understand right, this is a clarification (of sorts) to the standard of “true threat”. Ken White covers a lot of first amendment speech issues and has a very good explanation here: https://popehat.substack.com/p/supreme-court-clarifies-true-threats