Quite the contrary, actually. Thanks to this law you won’t have to watermark something you own, in order to prevent companies to use it for profit.
Unless of course you have the misconception that downloading something that someone else made is the same as owning it. In which case, I understand this might be difficult for you to grasp.
Nah, it’s deliberately formulated so it can be pulled out of context, misrepresented and cause outrage. And it works.