Are they saying that this act allows companies to watermark their content to prevent other companies from generating secondary content on their content?
How exactly does this act work?
It allows anyone to provide a complaint without any evidence, about any content hosted anywhere, and puts the legal onus on the person hosting that content to prove the negative (that it isn't a "fake"), with the legal requirement to remove the content as soon as is technically feasible (ie, instantly).
So, similarly abusable to the DMCA, but with even broader requirements and even more-impossible-to-prove legitimacy, since it creates a whole new ill-defined class of legal ownership over content.
TLDR: it's a great reason to move hosting outside of the US