I see both sides. First, its not really alarmist to be concerned about these types of things... was SOPA really that long ago? Just because its stupid doesn't mean someone won't legitimately attempt to pass it.
The other side says there are things in place to protect most people, like fair use.
so, lets say they pass something like this for games. To be honest, it doesn't affect me. I don't borrow games, nor do I loan them. I like to buy new games just for myself. Even if it did bother me, there are likely fair ways to circumvent the restrictions. Its technically illegal to circumvent copy protection in the U.S. That doesn't bother most people because they do so under fair use. I think the laws are in place to be able to nail the pirates. Ideally, it should never effect someone bypassing for their own use (if they were kosher on obtaining it to begin with).
Still, I'd rather not have wording in place that would allow someone to "legally" abuse the system.