We, as fans, will be royally screwed over. Yes, things like streaming and fanworks are considered copyright infringement, but the companies turn a blind eye to it (and sometimes embrace it) because it's free advertising. The concerns are to stop piracy, but I want to say that, because of the way it's written, that it unnecessarily covers too much ground. Sites like Youtube, Deviantart, and possibly even Smashboards would be shut down because they would be considered to be promoting copyright infringement.
In other words, we have more to worry about than not being able to upload replays to Youtube.