After RTFA it's pretty obvious this legislation is only meant to stop lazy downloaders or just inconvenience them, hardcore pirates will no doubt find their work-arounds and keep going on their merry way as always.
I really see this legislation as a bit of tree shaking meant to shoo away all those people who've been downloading copyrighted material because it was so damn easy to do so and there was little to no enforcement of infringement laws. In short the straight up easiness of downloading that latest episode of "A Game of Tits... opps Thrones" isn't going to be as easy as it was.
On a side note there's plenty of free culture out there that can be consumed quite easily; music, videos or whatever. Or you could just go out and make your own damn culture and put it out there for free, screw big business!