[superkuh]

That would be a great first step.

My other big objection is that this bill as written applies to all people hosting websites instead of being restricted to just incorporated persons like corporations and institutions like the EU's Digital Markets Act.

If it were modified to only apply to incorporated entities then it'd be a solid bill doing net good without any significant violation of individual rights. But as is it applies to all human people that run websites and that makes it a net negative because of the violation of the rights of normal human people.