It may be something better or something much worse.
If Oberlin engaged in defamation, they should pay the bakery. If they did nothing but encourage students to exercise THEIR speech and purchasing choices, it may be protected. The Texas statute is fine but it works both ways, like when antifa and the klan come to town.
In other words on speech consistency is the key. You need to treat the speech you despise the most the same as that which you love the most.