For example, someone defends their right to use the title or quote from an article from some other news gathering organisation. Someone will need to convince a judge that it's OK for The Sunday Times, or Der Spiegel to do that, but it's not OK for Reddit or Hacker News to do that.
And eventually, someone will need to convince a court that it's OK for Charlie Booker to broadcast a Cassetteboy video mash up on the UK's Channel 4, but it's not OK for Cassetteboy to upload that same video to youtube.
It is true that the CJEU doesn't hold case law and precedent in the same high regard as other courts, but neither does it ignore them. The ECJ and CJEU serves as a check on government in the same way the courts do in most other countries. I think it is unfortunate that the EU parliament has approved this law. But I struggle to see how it will stand up in court. That said, it will take a very brave person or organisation with deep pockets and a steel will to challenge this law.
However, if this law is upheld in court, then I think we can consider the EU a failed experiment. So abhorrent is this legislation that I, an ardent "Remaniac", would rather see the EU fail and take my chances with whatever comes next, than let the EU stifle free speech and the free flow of information and ideas in this way.