Shutting down wayback machine will not benefit society, keeping it open and supporting it will.
Edit: If this was a sarcasm that i didn't get as another poster pointed out, ignore above message.
The Wayback Machine is a great resource and relatively few people are going to object to things that they themselves (or their predecessors) put online in public being archived. And the Wayback Machine protects themselves by bending over backwards to remove anything a site owner decides they don't want to be archived.
There are some special exemptions to copyright for libraries but they're probably not relevant in the context of the Wayback Machine.
If I create a site called the "Library of Great Comic Strips" I shouldn't be surprised if copyright owners ask me to take their strips off.
ADDED: To be clear I fully support The Wayback Machine even if what they do isn't really covered by copyright exceptions for archives. "Library" isn't a magical superpower with resect to copyright.
Ugh, Is Google too then?
EDIT: Misunderstood OP, it appears he/she was being sarcastic.
I don't think the parent is raging against the Internet Archive, just pointing out the legal problems of what it does. Strict copyright law will destroy archives.
https://www.politico.eu/wp-content/uploads/2018/05/Copyright...
But these don't really address digital archives as the Copyright Office recognizes. https://www.copyright.gov/policy/section108/
Presumably the Internet Archive is considered a library, museum, or archive although I don't know if there are specific technical factors that would make them one or if it's more of a "know it when you see it" situation in the event of a dispute.