I don’t think this will make much difference honestly, we already have very little regulation here. It probably means that there will be copyright exemptions for training models. And honestly eroding copyright bit by bit is okay in my book.
What we should be worried about are the human rights that are about to be violated.
Problem is it is used to clean out copyleft too. Copyleft is a social good version of copyright. Using AI to wash it away, along with authorship, is not ok. Lots of open source wouldn't have taken over if it wasn't for stickiness of copyleft breaking "the tragedy of the commons".
Don't forget the current supreme court motto though: "rules for thee but not for me". Only massive and rich corporations will be allowed around copyright rules, but you and I and indie and open source will be held to the letter of the law.
You're right about the regulation but I'm not so sure about the copyright exemptions. All in all, you'd think he's more likely to side with property owners - especially the heirs of media empires - over progress.
Musk also has his hands on a fair amount of data through X and Tesla. But yeah... Copyright expansion seems like an odd place to start breaking the constitution.