Hate speech is protected because it is speech
From an American point of view maybe.
For instance, in my country the Netherlands our little Trump - Geert Wilders - has been acquitted of inciting hatred against Muslims four years ago. Geert Wilders was cleared of hate charges by Dutch court eventually. It was clear, because he was attacking Islam instead of Muslims. Two years ago he started chanting for "less Moroccans", and he has to face trial again for inciting discrimination this March. I feel that in these scenarios, you are both protecting free speech but also protecting our own people against hatred.