DRM is a non-starter and is in reality defective by design.
Pirates have created markets where there were none and are an important part of every entertainment eco-system. It's been that way since the beginning.
This is just another in a long string of bad decisions that attempts to give major distribution channels far more control than they deserve or could ever manage responsibly.
If you want to make money in entertainment, the business plan is simple. 1. Get people to like you. 2. Find a way for those people to get you money. You don't need Google, Netflix, Apple, NBC, CBS, ABC, RKO, ClearChannel, or anybody else that inserts themselves between you and your customers. None of them provides enough real value to anybody who didn't already have a market before leveraging them.
The fact that this standard is coming to be is just plain silly, but it does no harm in and of itself. All of the potential problems are today's reality. A rubber stamp by W3C implementing a tag in the HTML spec and blessing a workflow change nothing.
The FSF is stirring up noise without providing links to what it's talking about. I presume it's this: https://www.w3.org/TR/encrypted-media/
The workflow isn't particularly well thought out - it's not significantly different than what RealMedia or Adobe have had put together for a generation.
The real downside is the fact that browsers will be further plagued with vague integrations. Those integrations will all carry security ramifications that nobody cares to consider until a major exploit is publicized. The fact that so many people are willing to sacrifice their security for access to a 12 year old lionsgate video is beyond me, but such is the nature of the world we live in. Like I said before though... that is a problem that browsers face today. The new "standard" doesn't change much in reality.