Article 13 could "destroy the internet as we know it" PepeHands

It might be a step in the wrong direction, but remember:

• Only 7% of the world's population lives in the EU
  
• It's easier than everfor companies/sitesto move wheretheirservers/sites/databases are located, often without even moving any physical hardware.
  
• Users can easily hidetheir country of origin using a VPN
  

That this might "destroy the internet" is just sensationalism/hyperbole.. how many people truly believe that this would result in the end of memes and user-generated content?