When a merchant account is opened, it should be possible to accurately identify an individual responsible such that civil/criminal charges can be filed against him. Anything short of that will end up with a new account opened the next day, and it doesn't matter the platform.

I actually prefer the current chaos to something like Youtube where they have given rights owners an (practically) unappealable veto over everyone's content. Yes, I know that 98% of the strikes are probably correct, but some are completely bogus and others are exploiting fair use correctly.

One of the first things we would lose with a Youtube style agreement is the doctrine of first sale.