It is however the viewpoint of this article that the Megaupload indictment will likely be seen in the long run as having a more significant impact on Internet business models and innovation than the withdrawal of PIPA and SOPA — and this would be the case even if those bills had been enacted in some combined form.
That is because those bills, problematic as they were, created new forms of civil copyright enforcement — blocking of infringing foreign websites by both search engines and ISPs, and termination of third party payment and ad services for both foreign and domestic infringing websites. Such remedies might of course curtail a website’s income and even lead to its demise, as well as to executive and worker unemployment and investor monetary losses. But they would not threaten executives and investors with involuntary, decades-long incarceration in Club Fed.
This opinion piece makes some important points but it’s clearly biased in favour of megaupload.