I'm amazed that this is neither a "link tax" nor a "meme ban", but marketing in reframing regulating big tech abuses as some sort of attack on everyday users, so effectively that people refer to it as such.
The entire thing reads like its sole purpose is to protect the business model of organizations such as the MPAA and other similar middle-man organizations.
It pretty directly says that platforms must enter into agreements with rights holder organizations if they want to be absolved of liability.
As a user, the consequences are a big net negative.
Additionally it's not about regulating big tech but "protecting copyright" in a way that is completely misguided (as in, actually not likely to increase profits for shareholders) and frequently harmful to users.
It pretty directly says that platforms must enter into agreements with rights holder organizations if they want to be absolved of liability.