No. This draft describes a change by which localhost becomes effectively a new TLD in which all names map to the loopback address. Names in other TLDs won't be affected.
Drafts are just that: drafts, not standards. They automatically expire after 6 months if not renewed. As stated in [1]: Internet-Drafts are working documents of the Internet Engineering Task Force (IETF), its areas, and its working groups. [...] Internet-Drafts are draft documents, and are valid for a maximum of six months. They may be updated, replaced, or obsoleted by other documents at any time.