I guess what I hope about, is that right now the DMCA doesn't provide a good incentive to tackle wrong take-downs. Maybe by making this into a law, the process can get better. Companies will always do the absolute minimum required —and as a shareholder, this would be what I would demand as well. So it's up to us to set this minimum to an acceptable level.

Of course, I understand there are many ways this could go wrong. Law most of the time plays catch-up...