This decision is one of the many reasons why Europe will never reach the likes of Silicon Valley, no matter how much money will they sink down the "technology" hole (not that the US doesn't have its fair share of dumb legislators, because it has). This continent is a mess in terms of IT, with a few exceptions (London, Berlin, Dublin, some spots in Eastern Europe).
Sometimes, when companies climb the ladder to the top of the market, they kick the ladder down. This time, big copyright (and their political friends) kicked it down.