The phrase 'threat to democracy' in this context at this time ought to be a red flag that someone's trying to pull a fast one. Remember when people only wanted to add 'hate speech' to the exception list (things that 'free speech' supposedly 'never meant')? Now it's expanded to hate speech and 'false or misleading information'. And I'm seeing this messaging pretty frequently in a variety of public fora.
Obama is just changing his tune with the wind.
https://youtu.be/mi5da2AhDCY
Where are all the politicians raising the alarm about plutocracy as a threat to democracy? (I know there are a few who do, at least nominally.)