I feel like the whole time this was being argued and passed, everyone in power just considered the internet to be the major social media sites and never considered that a single person or smaller group will run a site.
IMO I think that you're going to get two groups of poeple emerge from this. One group will just shut down their sites to avoid running a fowl of the rules and the other group will go the "go fuck yourself" route and continue to host anonymously.