STFU, this is unprecedented, nobody censors the Internets via DMCA demands and WIPO actions.
DMCA is a per-content instance basis. This requires "Work" on Big Entertainment's part. With this bill or any of the other incarnations, a single unanswered "copyright violation accusation" that doesn't remove the content described within 5 days allows the entire website to be taken offline.
Can you say abuse waiting to happen?