That happens all over the place, conservatives pass a time bomb bill, they lose control of congress/house, time bomb is about to become effective, they now fight to overturn it and place the blame on the current ruling folks.
Except this bill was first introduced in March 2022, when the Tories hadn't imploded and there was no strong reason to expect they'd lose the next election.
It wasn't a "time bomb". They introduced this legislation because they wanted it.
This isn’t one of those cases. It was a well intentioned Bill that passed with Labour’s support but was very badly planned and written. Hell, it wouldn’t even have helped counter the misinformation being spread last summer and this summer to try and instigate more race riots!
If that were true, why do laws get amended when politicians see impacts they don't like? A famous example that college students are taught at A-Level Law is the law on bigamy where it stated "a married person who gets married again." This isn't possible (in the UK, you can only get married to one person at a time), so the court had to rewrite the legislation on the fly to get the intended effect.