Re: 'making Google's vid-hosting platform liable for infringements on copyrighted material would'
I personally have not seen any full new movies available to stream on Youtube for a long time. Any YT videos claiming to have the latest movies are clickbait designed to get people off Youtube onto dodgy websites.
I admit you can find old or foreign films on there but these would often be ones that are hard to find on paid for streaming sites or just filler than are shown on rinse and repeat on TV channels at 2am several times a month so there is probably not much revenue left in these anyway.
Where I do see an issue with this new law is that Facebook, Google etc are now going to be extra cautious about whether to block the upload of a video where there might be slight possibility of copyright content. Even if you have the right to use it under the exemptions of the law, that is no good if the AI bots block the video, photo etc when you try and upload it because it hits some copyright flag.