On one hand it is positive that it forbids insulting of ALL faiths, which means whilst one can question and debate with another with regards to their religious beliefs, they cannot get downright insulting and abusive. This will ensure peace and cordiality even in the face of interfaith dialog which is good.
However such laws are also known to be used to falsely accuse others, and can be difficult to prove in verbal exchanges. This could then cause much strife and injustices!
I agree with LLR, if people were to just be tolerant and considerate towards one another, faith/beliefs no bar, truly such laws will have no place in any civil society.