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Actually, it's your legal analysis that is wrong. Because your analysis begs the very question that the court is trying to answer: is their speech protected?
The answer is right in the quote by the Supreme Court. Commercial speech is not protected if it's misleading. So by definition, a law that bans deceptive speech is constitutional.
In the case of these plaintiffs, maybe their speech is deceptive and maybe it isn't. That's up to a jury to determine. But either way, the law stands.
In other words, it's entirely possible that their speech is not deceptive but someone else's is deceptive. The law would only apply to the latter.
You're assuming facts that have yet to be adjudicated.
If the relevant facts are yet to be adjudicated, then there was no basis for an injunction against this law.
Unless, of course, it were preliminary.
A preliminary injunction must be based on the strong likelihood that the plaintiffs will prevail.
If there are not any relevant facts yet, then there is likewise no basis even for a preliminary injunction.
Who said the facts don't exist?