I tried checking the actual bill and it seems you are correct and its target is not only limited to AI generated fakes but everything digital.
I have now found a summary of the EFF about the NO FAKES act and I'm most likely misunderstanding the breadth of that bill :
https://www.eff.org/files/2024/09/12/2024.11_no_fakes_one_pager.pdf
I almost blindly trust the EFF on these types of questions, they have been an invaluable ressource even in Europe to protect citizens.
I suppose the European approach is probably safer here since it doesn't limit speech but mandates transparency on AI fakes.