This isn't "social media companies", or "businesses", it's *everything*. Every website every forum every Fedi instance, every FTP server and gopher hole. Absolutely everything.
I severely doubt they'll go ahead and change/revoke this because it'll make all forms of accessible servers liable for whatever snippets of media is on them as if the server owner themselves has authored them.
What's odd is how the media keeps focusing on the 'social network' aspect and not noticing the magnitude of what we're talking about. You'd think they'd notice.