That's not entirely correct.
DMCA makes it illegal to circumvent technological protection measures that control access to copyrighted works. Bypassing these measures can be considered a violation.
Court cases have often ruled against the First Amendment protections, ruling that publishing software to bypass encrypted is not encrypted. This is like handing someone a gun, and then watching them commit a crime. You're suddenly a party to it, even if you never encouraged or endorsed the illegal act.
Cases such as Universal City Studios, Inc. v. Corley and MDY Industries, LLC v. Blizzard Entertainment, Inc. have upheld the enforcement of the DMCA in situations where software was designed to circumvent encryption or other digital rights management technologies. These cases indicate that creating and distributing decryption tools for copyrighted materials (such as Switch ROMs) would likely not be protected speech.
So, there is precedence.