I don't think so; it's a power grab by the (Abe) government, and yes, but to a much lesser extent, their corporate sponsors.
The (bogus and discredited) piracy-terrorism connection has been tried before in the USA and elsewhere; it never really catches on with the public, probably because it's self-evidently something that could only emerge via the anus of a corporate lobbyist.
But that's just the fat on the edges this new law, not the significant bit. This meat of it puts the Japanese government in a more American-style power position: surveillance, and prosecution of intent rather than actual deed.
A tangentially interesting part of this for me is: I work in Tokyo, and I ride my bike to work past the people pictured in the article. They are there, organized, obviously passionate (or at least engaged) in their political protest... but they are virtually all elderly. The picture in the article really is representative of what I see every day. 95% or more, 60+.
Why is that? Sure, retired people might have more free time, but... if only old people participate in your democracy, then your democracy is fucked.