I agree, but it's likely to change nothing. I'm not being defeatist per se, but I went through all this with the RIP Act in 2000 and it was futile, even though the Conservatives went through some posturing in defence of civil liberties. But now they are introducing worse legislation and Labour can hardly say "this is unprecedented" or whatever, since they were so gung-ho about it fifteen years ago. I wrote many letters and got no decent responses, just boiler-plate reiterations of why it was "necessary."
Well from the theme of this thread an open letter in the Times signed by a large proportion of the CTOs of Silicon Roundabout saying "we'll go to jail or leave the country if this goes into effect" will probably at least get some face time with a minister over this.
Funny you mention the Lords ... I wrote a position paper for the Conservative front-bench spokesman for Trade and Industry about the RIP Act 2000. Worked better than letter-writing and meeting my MP. All this because I happened to play cricket with him occasionally.