First, haven't watched the video.
My problem with it is that they aren't going to stop internet piracy, they can't, but they will screw up a lot of other things well beyond what they understand. Like most things the government sets out to rid us of, the only thing they'll accomplish is nabbing a bit of low-lying fruit and inconveniencing the good guys.
They can't knock down distributed networks or usenet, which is where we all go to steel stuff. They can blacklist tracker sites, but in a month we'll all be finding our torrents through some other distributed network.
Honestly, I think this is more about trying to gain some control over the tubes than anything else.
As has been said all along, the trick is not to end piracy, it's a waste of time trying. It's to find a way to prosper despite it. Considering that the TV, movie and music industry has been doing quite well, even while the rest of us scrape by, I'd say they're already accomplishing that.