> The internet would be a sliver of what it is today.
The American portion of the internet would be a sliver of what it is today.
Keep in mind that the world is a bit larger than just the US and that whenever the US decides to shoot itself in the foot like this some other entity will take its place.
This will likely continue until the US wises up to that and starts to move with all the resources they've got directed at recovering the lost ground, which I'm sure they'll be able to do fairly rapidly.
Software patents, the situation around copyright, it's all the same thing, a temporary disturbance. On a human lifespan scale it looks like things are moving with glacial speed but since the web as we know it is not even two decades old you can bet that given the changes it has already brought about you won't be able to recognize the information landscape in another hundred years or so.
This is just a delaying action, in the long run it won't mean anything. Now if we could make it not mean anything in the short run is up for grabs, vested interests will always fight to the death to keep their gravy trains rolling.
When Gutenberg made the printing press it took another 100 years or so before the implications were really felt far and wide give it some time.
Incidentally it only took very little time after the printing press was invented for the first primitive copyright legislation to follow.