At the end of the day what has happened is that US law (in fact, Maryland state law) as been imposed on a .com domain operating outside the USA, which is the subtext we were very worried about when we commented on SOPA. Even though SOPA is currently in limbo, the reality that US law can now be asserted over all domains registered under .com, .net, org, .biz and maybe .info (Afilias is headquartered in Ireland but operates out of the US).
This is no longer a doom-and-gloom theory by some guy in a tin foil hat. It just happened.
The ramifications of this are no less than chilling and every single organization branded or operating under .com, .net, .org, .biz etc needs to ask themselves about their vulnerability to the whims of US federal and state lawmakers (not exactly known their cluefulness nor even-handedness, especially with regard to matters of the internet).
Today’s flow of creative expression, riding a tide of billions of instantly accessible digital images and clips, is rapidly becoming so free and recycling so reflexive that it is hard to imagine it being slowed, much less stanched [by copyright law].