There are exemptions in the document and this article also talks about it; it would be good to know what tools we can use (p2p chat etc) that are exempt from this. I guess most people will blindly accept and won't care, but at least people can move if they do care (and possibly convince others).
I would think a peer-to-peer system would not be exempt from this legislation, particularly given my understanding that the EU courts do not look favorably on gotcha-style analysis of laws that are limited to definitions of words used being twisted to claim "I'm unregulated". If you are a developer who works on a chat client as part of a decentralized service, I'd expect both you and all of the people running the network to suddenly become service providers subject to this law.