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.
That would be insane, and it's not true. You have to consider the risks and impacts of your service, and scale is a key part of that.
I think it's really important around this to actually talk about what's in the requirements, and if you think something that has gone through this much stuff is truly insane (rather than just a set of tradeoffs you're on the other side of) then it's worth asking if you have understood it. Maybe you have and lots of other people are extremely stupid, or maybe your understanding of it is off - if it's important to you in any way it probably makes sense to check right?