That's just the problem - there are some states that prohibit Class III firearms ownership (usually law enforcement are exempt from this prohibition), but automatic weapons are technically not banned by federal law - only tightly restricted. Per the National Firearms Act, the definition of fully-automatic firearms is also very precisely spelled out - and serves as the "test" for devices such as the bump-fire stock. So, exactly which court rulings on automatic weapons are you thinking of?
I stand corrected. As you point out, the restrictions fall into the category of state restrictions and Federal restrictions. The Supreme Court has not ruled automatic weapons illegal, but it has upheld challenges to states banning them. Nor has it overturned those Federal restrictions you pointed out. So to the extent that the bump stock ban conforms to existing Federal law, it is not new law per se but enforcement of existing law.