Too many people have it now. What would be likely to happen if the bill passed is selective enforcement.
Many dictatorships have very broad laws that almost everyone inevitably breaks, but as long as you don't challenge the dictator or speak out against them in any way, you are safe.
But the moment you speak out against the government, suddenly the law gets enforced, since in the governments eyes, you have now committed the one true crime.
It's kind of funny to compare the Napster lawsuits, Aaron Swartz, DRM campaigns etc with the Ross Ulbricht type cases. Turns out you can download as many cars as you want, just make sure to pad the right politicans running for president.
Among the many reasons this could never pass: it would require extensive cooperation with the Senate minority (the majority holds control by just a thread, and not by enough move anything but reconciliation bills through) which isn't going to cooperate on anything resembling this.
There's only one Senator I trust to be able to understand the nuances of these kinds of issues and that's Ron Wyden, he's a Democrat. I would hope he would filibuster this if it came to the floor. As an Oregonian, I would definitely call his office if this came up for a vote.
It's not going to require a Ron Wyden filibuster. The Senate minority is not going to jump onto a grandstanding bill by an especially right-wing member of the majority. The bill will never clear cloture. That's before you even address the question of whether it'd get near-unanimous support from the majority, which is what it would need.
This is why stories like this are "officially" off-topic for HN ("proposed bill" is the search query you want). The actual mechanics of US politics are such that stuff like this pops up all the time, with everybody playing the televised game, as opposed to the home game like us, understanding that none of this is actually going to happen. Us talking about it was the entire ballgame for Hawley.
Many dictatorships have very broad laws that almost everyone inevitably breaks, but as long as you don't challenge the dictator or speak out against them in any way, you are safe.
But the moment you speak out against the government, suddenly the law gets enforced, since in the governments eyes, you have now committed the one true crime.