There was so much speculation going on in that video that I was starting to wonder whether this guy was just worrying the sky is about to fall in. Forgive me if I'm wrong, but no-one's actually seen a proposed bill as of yet, correct?
This paragraph, however, taken from the Copyright Office's Notice of Inquiry should nonetheless give anyone pause:
The Office has also looked extensively at the problem of orphaned photographs and artworks, and how best to facilitate an exchange between a good faith user and a rightful owner.
Aside from legal solutions, the Copyright Office is mindful of emerging practical solutions. Through an academic partnership with Stanford Law School, the Office has focused its attention on the subject of photographs and licensing gridlock. Stanford’s students are exploring ways to centrally assemble information concerning marketplace resources for the licensing of photographs and the data standards relied upon by copyright owners and licensees to engage in such transactions.