At the end of the day, I can't help but atleast partially agree with the reasoning behind the proposal; copyright is broken on the internet and it's nearly impossible to have it enforced on even larger sites if you're not one of the bigger players like music labels or hollywood studios or high profile game studios. And the current DMCA process deployed by most platforms is broken as well since all of the burden of proof lands on the creator with no repercussions for those who send them if it turns out to be fraudulent.
That needs to be fixed somehow, though the EU proposal is likely not a perfect approach.