Google can not afford to think just about the law in front of us today. This normalizes an idea they can not allow to take root, that they are responsible for the web. That idea is the existential threat, not the proximate law.

In point of fact quite a lot of sites and startups here are actually in the same danger, it's just Google has the spare resources to actually notice, pay attention, and do something about it, where a bootstrapping startup can not.