Google and Facebook show titles and quotes of linked articles. This legislation is specifically aimed at them. Noncommercial actors (bloggers etc) are supposed to be exempt.
> How do you NOT see this as bad?
It is extremely frustrating how people on HN apparently have no ability to acknowledge a valid argument for a position they oppose. Read the last two paragraphs of my post again. It clearly states, in rule-braking all-caps even, that I do not support this legislation.
> What good can come of it at all?
It will shift (as you note) money from those reprinting news to those producing original content. The former is cheap, commoditized, and in no danger. The latter is fundamental for a functioning democracy.