The bill itself doesn’t, but this particular Congress, as well as numerous states, are already making moves to restrict legal access to NSFW media online, in which case NSFW media won’t be protected by this bill. So people throwing their weight behind this bill on the premise that it will protect Itch are likely to discover that they’ve wound up making it impossible to de-bank groups like Collective Shout (not to mention arms manufacturers, payday lenders, crypto scams, etc.) without actually protecting LGBTQ or NSFW media creators.
Beyond which, there’s the question of why non-government financial institutions shouldn’t be able to decide not to provide service to some categories of business. If a credit card company doesn’t want to profit from mass shootings by processing payments for bump stocks, even though federal law doesn’t prohibit them, it seems wrong to require them to conduct that business anyway. This bill effectively intervenes in their rights of conscience — which is what it was designed to do.
The problem, from my POV, is not that private institutions can decide they don’t want certain clients, but rather that a few big players have effectively built up monopoly power, which makes it impossible to find another financial service provider when the biggest players say no.